Clay Raises Funding at $3B Valuation, Sources Reveal
▼ Summary
– Clay, a sales automation startup, raised a Series C round at a $3 billion valuation led by CapitalG.
– A month prior, Clay allowed employees to sell shares at a $1.5 billion valuation in a tender offer led by Sequoia.
– CEO Kareem Amin plans to conduct annual tender offers, giving employees future opportunities to sell stock at higher valuations.
– Clay pivoted to focus on AI-powered tools for salespeople and marketers, helping automate go-to-market strategies and customer outreach.
– The company serves thousands of customers, including OpenAI and HubSpot, and competes with platforms like ZoomInfo and Apollo.io.
Clay, the fast-growing sales automation platform, has secured a significant Series C funding round at a staggering $3 billion valuation, with CapitalG leading the investment. Multiple sources familiar with the transaction confirmed the deal, though neither the company nor the investor has publicly commented on the specifics.
This latest funding follows closely on the heels of another major financial move by the New York-based startup. Just last month, Clay enabled employees to sell portions of their equity through a tender offer at a $1.5 billion valuation, facilitated by Sequoia Capital. While some might view selling shares at half the current valuation as unfavorable, employees are expected to have additional opportunities to liquidate stock in future rounds. Kareem Amin, Clay’s co-founder and CEO, previously indicated plans to conduct similar tender offers annually, providing ongoing liquidity for team members.
Founded in 2017, Clay initially struggled to gain traction before shifting its focus to AI-powered sales and marketing automation. The pivot proved transformative, positioning the company as a leader in helping sales teams streamline prospecting, data enrichment, and personalized outreach. Today, Clay’s platform is trusted by a diverse clientele, from industry giants like OpenAI, HubSpot, and Canva to boutique consulting firms specializing in go-to-market strategies.
Competing in a crowded space, Clay goes head-to-head with established players such as ZoomInfo, Lusha, and Apollo.io, while also fending off newer entrants like Unify and Common Room. Despite the competition, Clay’s rapid growth and innovative approach have solidified its reputation as a disruptive force in sales technology.
The company’s investor roster includes prominent names like Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group, alongside Sequoia. With fresh capital and a surging valuation, Clay appears well-positioned to expand its market share and further refine its AI-driven solutions for sales professionals.
(Source: TechCrunch)
