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A decade in, bootstrapped Thinkst Canary reaches $20M in ARR without VC funding
Reflecting on 10 years since its launch, the honeypot maker explains why the company did not take on any VC funding.
Over the past decade, the company has grown to around 40 employees, mostly developers and engineers; hasn’t taken on any outside funding; and is on track this year to make a healthy profit on $20 million in annual recurring revenue, almost double from 2021, Thinkst founder Haroon Meer told TechCrunch. It’s an impressive, if not refreshing feat, at a time when many cybersecurity companies are driven by breakneck growth and speed and fueled by venture capital. The canary’s purpose is to reduce the amount of time that hackers have to sneak around on a victim’s network to search for sensitive data, plant malware, or otherwise cause damage before getting caught.
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