Three-year-old Clutch was last valued at $85 million when it raised a $20 million Series A round in January 2025, led by Lightspeed and SignalFire, according to our source. The startup is currently approaching $10 million in annual recurring revenue (ARR). That means the acquisition, if completed, would value Clutch at about 50 times its ARR, a standard way of pricing software companies. Palo Alto Networks and Clutch Security did not respond to a request f