Reltio's rapid growth continues to bring us to new and exciting places, which is why I am excited to announce that we've opened a new office in Lisbon, Portugal. Lisbon will serve as a global Reltio hub along with Redwood Shores and Bangalore.
As a global, distributed workforce, we're no strangers to locations far and wide. We've been a global company since I launched the startup in Redwood Shores, Calif., 11 years ago. Since then, we've sought ways to get closer to our customers, top-end talent, and the partners we work with every day in all the major global markets. Lisbon is a perfect new location for our company.
While it's a great place to visit, Lisbon has become a global magnet for technology talent. Many technology workers and companies choose Portugal for its attractive "work from anywhere" vibe and lifestyle. I've found Portugal to be passionate about building a vibrant community of forward-thinking businesses and technology companies.
Scaling to meet rapid growth
The opening of the Lisbon location marks an important milestone in Reltio's strategic growth plans for serving the growing need for MDM among European enterprises. It also enables us to scale and support our customers and partners worldwide.
Our newest office comes at a time of rapid growth for us. We announced $120 million in equity funding at a $1.7 billion valuation a year ago and $237 million in total funding since I launched 11 years ago. In June, we also announced that we crossed the $100 million mark in annual recurring revenue (ARR). This was a significant milestone, driven by growing interest from enterprises across industries to adopt modern, cloud MDM solutions as part of their digital transformation strategies. As of Q1 2022, there were over 1,000 unicorn companies globally; however, only around 150 have achieved $100 million ARR or "centaur" status, making them seven times rarer than a unicorn.
Lisbon - a cool place to visit and a thriving global tech hub
While we have had employees based in Europe for several years, this new office in Lisbon is our largest European expansion to date. This new office demonstrates our growth and our belief that the European market has many opportunities to expand our business, forge new relationships and partnerships, attract tech talent and serve as a multi-purpose EU hub. Lisbon is an incredible location–it has a fantastic culture, food, people, and history. There's so much to love about Portugal--the country and its people have welcomed us with open arms.
This is a match made in heaven. This city is a vibrant community of forward-thinking businesses and technology companies, and it's where we want to be now and in the future. Lisbon is one of the world's most exciting emerging tech cities for living and working—we're excited to enrich and grow our relationships in Portugal and beyond. Visit us and say hello!