Clay, a sales automation startup, has reportedly closed its Series C funding round at an estimated $3 billion valuation, with CapitalG leading the investment, according to three sources familiar with the matter.
Just a month ago, the New York-based startup announced a tender offer that allowed most of its employees to sell a portion of their shares at a $1.5 billion valuation. Sequoia led the secondary transaction, committing to purchase up to $20 million worth of employee stock.
While it might appear that employees who sold shares at the lower valuation missed out, they’ll likely have another opportunity to sell stock at a higher price next year. Co-founder and CEO Kareem Amin has expressed intentions to conduct tender offers on an annual basis.
Founded in 2017, Clay found its momentum in recent years after shifting its focus to empowering sales and marketing teams with AI. The platform helps users discover key data, automate go-to-market strategies, build and update prospect lists, and craft personalized outreach emails.
Today, Clay’s tools are used by thousands of customers, including major names like OpenAI, HubSpot, and Canva, as well as over 100 small consulting firms that assist other businesses in leveraging Clay for sales growth.
Clay operates in a competitive landscape alongside platforms such as ZoomInfo, Lusha, and Apollo.io, as well as emerging players like Unify and Common Room.
In addition to Sequoia, Clay’s existing backers include Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group.
With its latest funding round boosting its valuation to $3 billion and a strong lineup of investors, Clay continues to solidify its position in the competitive sales automation space. The company’s commitment to annual tender offers also signals a focus on long-term employee incentives as it scales further.
