Podium crosses $150M in AI agent ARR, two and a half years after betting the company on AI
What happened? Podium, the Utah-based software company for local businesses, says it has passed $150 million in AI-specific annual recurring revenue. It got there in two and a half years; its original messaging and reviews software business took eight years to reach the same mark. "We built a $150M ARR business twice," co-founder and CEO Eric Rea wrote on X on 22 October.
The bet: Three years ago Podium already had well over $100 million in revenue and tens of thousands of customers, but decided to rebuild around AI agents that work like employees: answering calls, responding to leads, booking appointments and following up with customers. "We effectively started a second startup inside an already successful company," Rea said. "In the age of AI, you can either disrupt your own company or wait for somebody else to do it."
By the numbers: Podium says more than 20,000 of its AI agents are now deployed, double the roughly 10,000 it reported in January when it crossed $100 million in AI ARR, and that they have helped customers generate more than $13 billion in revenue. Rea says the company is profitable and generating free cash flow.
Moving down the stack: Podium is no longer just selling agents on top of other software. It is building AI-native systems of record for its core verticals: a field service management system for HVAC, plumbing, electrical and garage door contractors, an electronic medical record system for aesthetics practices, and agents for car dealerships' sales and service.
The bigger picture: Podium is one of the clearest examples of an established SaaS company reinventing itself as an AI-first business rather than being disrupted by one. Founded in 2014 by Eric Rea and Dennis Steele, it has raised about $420 million, most recently a $201 million Series D in 2021 at a $3 billion valuation led by YC Continuity.
Read more: Podium press release · Eric Rea on X
