Clay Raises $100M at $3.1B Valuation
▼ Summary
– Clay, a sales automation startup, raised a $100 million Series C at a $3.1 billion valuation led by CapitalG.
– The funding follows a $1.25 billion Series B six months ago and a $1.5 billion Sequoia-led tender offer for employee shares.
– Total funding now stands at $204 million, with participation from existing investors and new backer Sapphire Ventures.
– The 8-year-old company provides AI-powered tools for sales and marketing, serving clients like OpenAI and Canva.
– CEO Kareem Amin projects $100 million in revenue by year-end, tripling last year’s revenue.
Sales automation platform Clay has secured $100 million in fresh funding, pushing its valuation to an impressive $3.1 billion. The Series C round was spearheaded by Alphabet’s growth fund, CapitalG, validating earlier reports about the company’s fundraising efforts.
This latest injection of capital comes just six months after Clay’s $1.25 billion Series B and follows a separate $1.5 billion secondary offering facilitated by Sequoia Capital. That earlier deal provided liquidity for employees by allowing them to sell portions of their equity. With the new funding, Clay’s total raised now stands at $204 million.
Longtime supporters including Meritech Capital, Sequoia Capital, and First Round Capital doubled down on their investments, while Sapphire Ventures joined as a new participant. Founded eight years ago, Clay specializes in AI-driven tools designed to streamline workflows for sales and marketing teams. Its client roster features high-profile names like OpenAI, Anthropic, and Canva, showcasing its appeal to cutting-edge tech firms.
CEO Kareem Amin revealed the company is on track to hit $100 million in annual revenue, a threefold increase from the previous year. The rapid growth underscores Clay’s ability to capitalize on the booming demand for automation solutions in competitive industries. With fresh capital and expanding revenue, the company appears well-positioned to scale its operations and refine its AI-powered offerings.
(Source: TechCrunch)
