Starburst Financial Model
Enterprise/Security Startup Financials (Free Excel Download)
Enterprise data analytics platform ("Analytics Anywhere") built on open-source Trino/PrestoSQL - lets companies query data across any source without centralising it first.
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About this model
Starburst lets enterprises query data across sources without centralising it first. Built on open-source Trino and PrestoSQL, the platform's Analytics Anywhere proposition supports distributed data access across an organisation's existing technical environment.
The company sells annual enterprise subscriptions and had raised $164 million at the time of its deck. Technical adoption can begin with a focused workload and expand across data sources, users, and environments, making net retention and deployment breadth central commercial assumptions.
The model builds subscription ARR from new logos, ACV, expansion, and churn. It can include a clearly separated consumption sensitivity where Starburst Galaxy evidence supports it, while infrastructure costs, sales capacity, R&D, gross margin, and operating expenses determine runway.
A turnkey financial model
Live formulas, no hardcoded values
Outputs are driven by live formulas, so the workbook updates from its assumptions instead of relying on hardcoded results.
All assumptions in one tab
Inputs are clearly marked in the Assumptions tab and separated from calculations, making it clear what to change and what to leave intact.
Statements always balancing
For integrated-statement models, the balance sheet, cash flow, and supporting schedules tie through properly.
Distinct schedules for clarity
Debt, working capital, taxes, and cash flow can get messy quickly. We group calculations in clear schedules, not across disconnected tabs.
No hidden macros or external links
There are no unexplained external workbook links or macros to undermine auditability or portability.
Changes flow through the model
Update a key driver and see the impact carry through the forecast, financing, and return outputs. We never use hardcoded numbers in formulas.
About Starburst
starburst.io
How to build a detailed financial model for Starburst
A complete walkthrough of the business, drivers, and assumptions behind the downloadable Starburst model - distilled from its pitch deck and publicly available information.
Product & value proposition
- Starburst Enterprise: a distributed SQL query engine (Trino / PrestoSQL) that sits on top of existing data sources (data lakes, warehouses, operational RDBMS, streaming, non-relational DBs) and queries them in place - no data movement required.
- Deployed on-prem, hybrid, cloud, or multi-cloud.
- Core pitch: replaces the "move everything into one EDW" model. Data stays where it lives; Starburst federates queries across it.
- Positioned as "The Analytics Engine for Data Mesh".
- Key technical differentiators called out: performance, connectivity, query auditing, global security, fine-grained access control, column + row-level permissions.
Market
- Big Data Market Size ('24): $164B
- Sub-markets addressed:
- BI Market ('25): $33B
- Data Warehousing Market ('25): $30B
- Data Integration Market ('25): $18B
- Data Lake Market ('26): $17B
- Starburst stated TAM: $100B+ (intersection of sub-markets above)
Revenue model
- Not explicitly stated in deck.
- Enterprise software licensing / subscription (annual contracts), consistent with Starburst Enterprise branding and standard data infrastructure go-to-market. Likely seat-based or compute/cluster-based pricing.
- Possible cloud consumption component for Starburst Galaxy (cloud-native SaaS offering known from public context; not named in this deck).
- Distribution: direct enterprise sales (implied by named enterprise customer logos and "Starburst Voyagers" customer community program).
Traction & metrics
- Total funding raised: $164M
- Net Promoter Score: 85
- Named investors: Index Ventures, Coatue, a16z, Salesforce Ventures
- Named customers: Comcast, Verizon, Condé Nast, VMware, FINRA, Grubhub, M&S, Upwork, Simon, EMIS, Carrefour, Prezi
- Awards: InfoWorld Technology of the Year 2021; Data Breakthrough Award 2021 - Data Source Solution of the Year
- "Largest team of Trino experts in the world"
Competition / moat
- Implicit competitive framing vs. legacy on-prem data warehouses (Teradata) and cloud data warehouses (Snowflake, BigQuery, Redshift implied by "move all your data into one place... in the cloud" critique).
- Moat claims:
- Founded by and employs the original creators and top committers of Presto/Trino open-source project: Justin Borgman (ex-Teradata), Matthew Fuller, Kamil Bajda-Pawlikowski, Martin Traverso, Dain Sundstrom, David Phillips (Facebook alumni).
- Authors of "Presto: The Definitive Guide" (O'Reilly).
- "100% committed to Trino" - deepest OSS expertise claim.
- 85 NPS implies strong retention / low churn.
Team & funding ask / use of funds
- CEO/Co-Founder: Justin Borgman (ex-Teradata)
- Other co-founders: Matthew Fuller, Kamil Bajda-Pawlikowski (ex-Teradata), Martin Traverso, Dain Sundstrom, David Phillips (ex-Facebook)
- Total raised to date: $164M
Recommended financial model
- Archetype + why: Enterprise SaaS ARR model. Starburst sells annual subscription licenses to large enterprises; the key value driver is ARR growth (new logos + expansion), retention (NRR), and path to profitability. A consumption overlay can be added if Starburst Galaxy data is available, but the deck frames this as subscription/enterprise go-to-market.
- Forecast horizon & granularity: 5 years (Year 1–5); quarterly for Y1–Y2, annual for Y3–Y5. Monthly granularity is unnecessary given no disclosed MRR base.
- Key drivers & assumptions:
| Driver | Value |
|---|---|
| Starting ARR | Unknown |
| New logo growth rate (Y1–Y3) | 40–60% YoY |
| Average ACV (new logos) | $150K–$300K |
| Net Revenue Retention (NRR) | 120–130% |
| Gross margin | 70–75% |
| Sales & marketing as % of revenue | 40–50% |
| R&D as % of revenue | 25–35% |
| G&A as % of revenue | 10–15% |
| Rule of 40 target | >40 by Y3 |
| TAM penetration ceiling | $100B stated |
- Scenarios (Base / Bull / Bear - which variables flex):
- Base: 50% ARR growth Y1–Y2, tapering to 35% by Y5; NRR 120%; gross margin 72%.
- Bull: 70% ARR growth Y1–Y2, NRR 130%, faster logo adds; margin expansion to 78% by Y5.
- Bear: 30% ARR growth, NRR 110% (macro headwinds, elongated enterprise sales cycles), gross margin 68%.
- Required sheets / outputs:
- Assumptions - all drivers with toggle for Base/Bull/Bear
- ARR Bridge - new ARR, expansion ARR, churned ARR, net new ARR
- Income Statement - revenue, COGS, gross profit, OpEx (S&M, R&D, G&A), EBITDA, net income
- Headcount Plan - sales, engineering, G&A (feeds S&M and R&D lines)
- Cash & Runway - burn rate, cash balance given $164M raised (partial; actual cash unknown)
- Unit Economics - ACV, CAC, LTV, payback (inputs assumed; update when data available)
- Dashboard - ARR waterfall, NRR trend, Rule of 40, burn multiple
Frequently asked
Is the Starburst financial model free?+
Yes. The Starburst model is a free Excel (.xlsx) download with live formulas. Sign up with your email and the workbook is yours to keep, review, and edit.
What's included in the model?+
A 5-year monthly forecast with P&L, cash flow and runway, valuation (exit multiple plus a DCF cross-check), MOIC/IRR returns, and unit economics, with live formulas throughout.
How was this model built?+
It was built from Starburst's pitch deck and publicly available information, then structured to investment-banking standards as a fully editable Excel model.
Can I change the assumptions?+
Yes. You can change assumptions and the live formulas will recalculate in the downloadable Excel model.
Have more financial modelling questions? Contact us
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