Total amount raised
$102 Millions
Latest funding date
Location
Clay has successfully raised $40 million in its latest Series B funding round, attracting significant interest from prominent investors such as First Round Capital, BoxGroup, and boldstart ventures. The platform offers innovative tools that combine various data sources to support growth teams in reaching their ideal customers.
Keep reading to explore the intricacies of Clay's fundraising journey and the investors backing this innovative platform.
What Is Clay?
Clay, founded on July 25, 2017, is based in New York, New York. The company was established by Kareem Amin, Nicolae Rusan, and Varun Anand.
Clay offers creative tools for growth teams, integrating data from over 100 sources to enhance customer research. Their platform combines first-party, intent, and third-party data to help businesses reach their ideal customers.
With a team of 51-100 employees, Clay continues to innovate in the field of customer research and data integration, providing unique insights and actionable data for growth teams.
How Much Funding Has Clay Raised?
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2015
- Lead Investors: BoxGroup
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Clay's platform.
- Seed Round
- Amount Raised: $2.5M
- Date: June 2017
- Lead Investors: First Round Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $13.5M
- Date: June 2019
- Lead Investors: Sequoia Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To power growth and enhance the platform's capabilities.
- Series B
- Amount Raised: $46M
- Date: June 2024
- Lead Investors: Meritech Capital Partners
- Valuation at Round: $500M
- Motivation Behind the Round: To support the company's growth and development.
- Series B Expansion
- Amount Raised: $40M
- Date: January 2025
- Lead Investors: Meritech Capital Partners
- Valuation at Round: $1.25B
- Motivation Behind the Round: To maintain revenue growth momentum and integrate the Avenue acquisition.
Total Amount Raised: $102M. Current Valuation: $1.25B.
Key Investors
- First Round Capital
- Details: First Round Capital is a venture capital firm that specializes in providing seed-stage funding to technology companies. They have a strong track record of supporting early-stage startups.
- Investment Focus Areas: Technology, Consumer, Enterprise.
- Notable Investments: Uber, Square, Warby Parker.
- BoxGroup
- Details: BoxGroup is an early-stage investment fund based in New York. They focus on investing in technology startups.
- Investment Focus Areas: Technology, Consumer, Healthcare.
- Notable Investments: Flatiron Health, Plaid, Glossier.
- boldstart ventures
- Details: boldstart ventures is a venture capital firm that focuses on seed and early-stage investments in enterprise software and infrastructure. They are known for their hands-on approach with portfolio companies.
- Investment Focus Areas: Enterprise Software, Developer Tools, Infrastructure.
- Notable Investments: Snyk, BigID, Kustomer.
- Meritech Capital Partners
- Details: Meritech Capital Partners is a growth-stage venture capital firm. They led the recent $40 million Series B expansion round for Clay.
- Investment Focus Areas: Technology, SaaS, Consumer Internet.
- Notable Investments: Facebook, Salesforce, Snowflake.
- Sequoia Capital
- Details: Sequoia Capital is a global venture capital firm that invests in companies across various stages. They led Clay's Series A funding round in 2019.
- Investment Focus Areas: Technology, Healthcare, Consumer.
- Notable Investments: Apple, Google, Airbnb.
What's Next for Clay?
Clay's future looks promising with the recent $40 million funding and a valuation of $1.25 billion. The company is poised to capitalize on the growing demand for AI-powered tools and workflow automation, especially with over 5,000 customers, including giants like OpenAI and Canva. The acquisition of Avenue further enhances their platform, offering significant opportunities for growth and expansion into new markets.
As Clay continues to innovate, future fundraising rounds seem likely, driven by investor interest and the company's rapid growth. However, challenges such as integrating Avenue's tools and maintaining momentum in a competitive landscape remain. Successfully navigating these hurdles will be crucial for sustaining their upward trajectory.
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