How Much Did Clerk Raise? Funding & Key Investors

Clerk has successfully raised significant capital through multiple funding rounds, including a recent $30 million Series B round. The platform offers comprehensive authentication and user management solutions, featuring embeddable UIs, flexible APIs, and advanced security measures.

Keep reading to explore the intricacies of Clerk's fundraising journey and the investors backing this innovative platform.

What Is Clerk?

Clerk, founded in March 2020 by Braden Sidoti and Colin Sidoti, is based in San Francisco, California. The company specializes in providing a comprehensive user management platform, featuring embeddable UIs, flexible APIs, and advanced security measures.

With a team of 101-250 employees, Clerk focuses on enhancing user authentication and management for websites. Their platform includes features like multi-factor authentication, fraud prevention, and session management.

Clerk's solutions are designed to streamline the sign-up and sign-in processes, making it easier for businesses to manage user profiles securely and efficiently.

How Much Funding Has Clerk Raised?

1. Pre-Seed Round
   • Amount Raised: $200,000
   • Date: March 2019
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: Initial capital to develop the core product and validate the business idea.
2. Seed Round
   • Amount Raised: $4,000,000
   • Date: July 2021
   • Lead Investors: S28 Capital
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the team and enhance product features.
3. Seed Round
   • Amount Raised: $100,000
   • Date: July 2022
   • Lead Investors: Jamstack Innovation Fund
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support early-stage product development and market entry.
4. Seed Round
   • Amount Raised: $6,200,000
   • Date: November 2022
   • Lead Investors: Andreessen Horowitz
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand the product's capabilities and increase market reach.
5. Series A
   • Amount Raised: $15,000,000
   • Date: March 2023
   • Lead Investors: Madrona
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale the user base and enhance product capabilities.
6. Series B
   • Amount Raised: $29,000,000
   • Date: June 2023
   • Lead Investors: Not publicly disclosed
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To further scale the product and enter new markets.
7. Series B
   • Amount Raised: $30,000,000
   • Date: January 2024
   • Lead Investors: CRV
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To expand services beyond authentication into authorization and accelerate product development.

Total Amount Raised: $84,500,000. Current Valuation: Not publicly disclosed.

Key Investors

• CRV
  • Details: CRV is a venture capital firm that focuses on early-stage investments. They have a history of backing innovative technology companies.
  • Investment Focus Areas: Technology, consumer, enterprise.
  • Notable Investments: Twitter, DoorDash, Zendesk.
• Stripe
  • Details: Stripe is a technology company that builds economic infrastructure for the internet. They are known for their payment processing solutions.
  • Investment Focus Areas: Financial technology, payment processing, financial services.
  • Notable Investments: Monzo, Paystack, Rapyd.
• Andreessen Horowitz
  • Details: Andreessen Horowitz is a venture capital firm that invests in technology companies at various stages. They are known for their significant influence in the tech industry.
  • Investment Focus Areas: Technology, consumer, enterprise, bio/healthcare, fintech.
  • Notable Investments: Facebook, Airbnb, Slack.
• Madrona
  • Details: Madrona Venture Group focuses on early-stage technology companies, particularly in the Pacific Northwest. They have a strong track record of successful investments.
  • Investment Focus Areas: Technology, enterprise, cloud computing.
  • Notable Investments: Amazon, Smartsheet, Redfin.
• S28 Capital
  • Details: S28 Capital is a venture capital firm that invests in early-stage technology companies. They focus on helping startups scale and succeed.
  • Investment Focus Areas: Technology, enterprise software, SaaS.
  • Notable Investments: Not publicly disclosed.

What's Next for Clerk?

Clerk's future looks promising as it expands its services beyond authentication into authorization, leveraging its strategic partnership with Stripe. This move opens up significant opportunities, given the increasing demand for integrated solutions in SaaS, AI, fintech, and e-commerce. With over 16 million managed users and 1,300 paying customers, the potential for growth is substantial.

Future fundraising seems likely, especially with the successful Series B round and strategic partnerships in place. However, challenges such as synchronizing billing information with authorization engines and maintaining rapid growth could pose hurdles. Ensuring seamless integration with third-party services will be crucial for Clerk's continued success.

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