Clay Secures $3 Billion Valuation with Series C Funding

New updates have been reported about Clay (PC:CLAYQ)

Clay, a prominent sales automation startup, has successfully raised a Series C funding round, achieving an approximate valuation of $3 billion. This round was led by CapitalG, as confirmed by multiple sources familiar with the transaction. This development follows closely on the heels of a recent tender offer, where Clay allowed its employees to sell shares at a $1.5 billion valuation. Sequoia spearheaded this secondary deal, purchasing up to $20 million in employee stock. Despite the lower valuation in the tender offer, employees are anticipated to have future opportunities to sell shares at potentially higher valuations, with CEO Kareem Amin expressing intentions to conduct annual tender offers.

Founded in 2017, Clay has gained significant traction in recent years by pivoting its focus towards leveraging AI to enhance sales and marketing strategies. The platform empowers sales professionals by automating customer data discovery and outreach processes. Clay’s tools are widely adopted, serving thousands of customers, including major corporations like OpenAI, HubSpot, and Canva, as well as numerous small consulting agencies. The company operates in a competitive landscape, contending with established sales tech platforms such as ZoomInfo, Lusha, and Apollo.io, along with emerging players like Unify and Common Room. In addition to CapitalG and Sequoia, Clay’s investor roster includes Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group. This strategic funding positions Clay for continued growth and innovation in the sales automation sector.