TerminusDB Revenue, Valuation & Funding (2024)

TerminusDB generated an estimated $240.4K in annual revenue in 2024.

TerminusDB reported approximately $20,000 in monthly recurring revenue as of early 2022, equating to roughly $240,000 on an annualized basis. That figure was up from approximately $10,000 per month a year earlier, representing 100 percent year-over-year growth. Feeney told Latka that the $20,000 monthly figure includes both individual developer subscriptions and a layer of enterprise customers, some of which are carryovers from an earlier direct enterprise sales motion.

TerminusDB reported approximately 700 monthly active users on its cloud platform as of early 2022. Of those, Feeney estimated roughly 350, or about 50 percent, are paying customers, with the remaining 350 on the free tier. The company's open source version has accumulated over 700,000 downloads.

The product is priced at $20 per month per user, making the average revenue per user $20. The free tier allows teams of up to three members before an upgrade is required, a model Feeney compared to Slack's approach. The company targets software developers across verticals including martech, ad tech, and research, using a bottom-up strategy in which individual engineers adopt the product and then expand usage into their organizations.

TerminusDB operates on a freemium, usage-based model. The company sells a hosted cloud version of its fully open source graph database software. There are no enterprise features withheld from the open source version; the paid product competes on convenience rather than feature differentiation. Feeney described the value proposition as eliminating the DevOps overhead of self-hosting, containerizing, and deploying the software.

The free tier supports teams of up to three members. Beyond that threshold, users are required to move to a paid plan at $20 per month per seat. The company also maintains a layer of direct enterprise customers, some inherited from an earlier enterprise sales motion the company ran before pivoting to open source and bottom-up distribution. Feeney indicated the company's expansion strategy involves moving from individual developer adoption to team and enterprise license consolidation, describing a sandwich approach of engaging both the individual engineer and the CTO simultaneously.

Profitability, gross margin, churn, LTV, CAC, burn rate, and runway were not discussed in the interview. The company's implied monthly revenue from its approximately 350 paying users at $20 each is roughly $7,000, with the balance of the reported $20,000 monthly figure coming from enterprise arrangements. That derived figure is a GetLatka calculation based on figures Feeney stated and should be treated as an approximation.

TerminusDB had 13 full-time employees as of early 2022, all based in Dublin, Ireland. Of those, 11 are engineers. Feeney noted that hiring senior developers in Dublin has become significantly more expensive, citing reports that Stripe pays approximately 350,000 pounds for mid-range engineers in the market. He said TerminusDB pays senior developers approximately 100,000 pounds, and competes for talent by appealing to engineers who want to contribute to open source and work on ambitious projects rather than join large technology companies.