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- Clay
Clay Revenue, Valuation, Funding & Investors
Clay is valued at $7.1B as of September 2026, a 35.5x multiple on its last reported $200M revenue.
Last Clay valuation
$7.1B
Series D · Sep 2026
Last Clay funding round
$115M
Series D · Sep 2026
Clay revenue
$200M
Series D · Sep 2026
Key investors in Clay
boldstart ventures
Sequoia Capital
First Round Capital
BoxGroup
Meritech Capital Partners
CapitalG
About Clay
Clay is a San Francisco-headquartered platform for go-to-market teams, integrating data from over 100 providers for contacts, firmographics, and intent signals. Launched in 2022, it features AI-powered research agents, workflow automation, and enrichment tools used by sales organizations worldwide.
Founded
2017
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Subscription
Revenue
$200M (Sep 2026)
Valuation
$7.1B (Sep 2026)
Clay Valuation
Clay is currently valued at $7.1B, based on its Series D in September 2026.
The $115M round was led by Wellington Management, with participation from Evolution Equity Partners, StepStone Group, BoxGroup, Bloomberg Beta, Andreessen Horowitz and 6 other investors.
Clay's valuation has grown 14x from $500M at its Series B in June 2024 to $7.1B in September 2026, across 4 priced rounds.
Clay valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2026 | Series D | $7.1B | 35.5x |
| Jun 2025 | Series C | $3.1B | 31.0x |
| Jan 2025 | Series B | $1.3B | 12.5x |
| Jun 2024 | Series B | $500M | 5.0x |
Clay Revenue
Clay's latest recorded revenue is $200M, as of its Series D in September 2026. At a $7.1B valuation, that implies a 35.5x revenue multiple.
Revenue grew from $100M in June 2024 to $200M in September 2026, while the revenue multiple moved from 5.0x to 35.5x.
Clay revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2026 | $200M | $7.1B | 35.5x | Series D |
| Jun 2025 | $100M | $3.1B | 31.0x | Series C |
| Jan 2025 | $100M | $1.3B | 12.5x | Series B |
| Jun 2024 | $100M | $500M | 5.0x | Series B |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Clay Funding History
Clay has raised a total of $317M across 6 funding rounds.
Clay's first fundraising round was a $3M seed round in June 2017. The most recent completed round was a $115M Series D in September 2026.
Clay funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Sep 2026 | Series D | Wellington Management (lead); Evolution Equity Partners; StepStone Group; BoxGroup; Bloomberg Beta; Andreessen Horowitz; CapitalG; boldstart ventures; Sequoia Capital; Perennial; DST Global; Meritech Capital Partners | $115M | $7.1B | Clay raised $115 million in a Series D financing at a $7.1 billion valuation, led by Wellington Management, with participation from Andreessen Horowitz, Sequoia Capital, StepStone Group, Perennial, Meritech, DST Global, CapitalG, BoxGroup, boldstart ventures, Bloomberg Beta, and Evolution Equity Partners. The company also announced a $1 million scholarship fund tied to training go-to-market engineers. The round reflects continued investor backing for Clay’s AI go-to-market platform, which is used by more than 17,000 companies and is focused on automating data enrichment, prospect research, and personalized outreach workflows. The financing follows strong growth in the company’s core business and positions Clay to expand its AI growth-agent and revenue-engine product set. Clay is a New York-based software company founded by Varun Anand and Cole Turner. The business sells AI tools for sales and marketing teams and has become one of the larger private companies in the AI go-to-market software category. |
| Jun 2025 | Series C | CapitalG (lead); First Round Capital; BoxGroup; boldstart ventures; Sequoia Capital; Sapphire Ventures; Meritech Capital Partners | $100M | $3.1B | Clay is a New York-based AI-powered go-to-market (GTM) development platform that enables sales and marketing teams to automate workflows, lead generation, and integrate data sources, positioning itself as the IDE for GTM engineers, similar to Figma for designers. Founded in 2017 by Kareem Amin, Nicolae Rusan, and others, it serves over 10,000 paying customers including OpenAI, Google, Anthropic, Canva, Intercom, Notion, Ramp, and Rippling. On August 5, 2025, Clay raised $100 million in a Series C round led by CapitalG at a $3.1 billion post-money valuation, with participation from Meritech Capital, Sequoia Capital, First Round Capital, BoxGroup, Boldstart Ventures, and new investor Sapphire Ventures, bringing total funding to $204 million. This follows a $40 million Series B expansion in January 2025 at $1.25 billion valuation and a $1.5 billion secondary sale in May 2025. The funds will accelerate product development, team expansion, market growth, and promote GTM engineering as a career path. Clay reported 6x growth in 2024, is on track for $100 million in revenue by end of 2025 (tripling prior year), serves over 10,000 customers (up from 5,000 in January), and is close to profitability with low cash burn. CEO Kareem Amin confirmed to The New York Times the expectation to end 2025 with $100 million revenue. The rapid valuation increase from $500 million a year prior to $3.1 billion reflects strong investor enthusiasm for AI-driven sales automation amid a competitive landscape of GTM tools. |
| Jan 2025 | Series B | Meritech Capital Partners (lead); First Round Capital; BoxGroup; boldstart ventures; Sequoia Capital | $40M | $1.3B | Clay is an AI-powered go-to-market development platform that helps sales and marketing teams automate workflows and prospecting. The company's platform combines over 150 data integrations with AI agents to enable use cases such as prospect research, personalized outreach at scale, competitor monitoring, and revenue opportunity discovery. Clay serves over 10,000 customers including OpenAI, Anthropic, Canva, Intercom, and Rippling, and operates a network of 108 agencies. In February 2025, Clay closed a $40 million Series B expansion round at a $1.25 billion post-money valuation, led by Meritech Capital Partners with participation from existing investors. The company had achieved explosive growth, with 10x revenue increases in both 2022 and 2023, followed by 6x revenue growth in 2024, though specific historical revenue figures were not disclosed near the round date. Management indicated the company expected to end 2025 with $100 million in revenue, representing a tripling from the prior year. The funding was intended to support GTM development environment enhancements and product upgrades including autonomous agents for research and messaging, first-party data integration, and improved signal capabilities. |
| Jun 2024 | Series B | Meritech Capital Partners (lead); First Round Capital; BoxGroup; boldstart ventures; Sequoia Capital | $46M | $500M | Clay is an AI-powered go-to-market platform founded in 2017 that helps sales and marketing teams automate data enrichment, lead generation, customer research, and personalized outreach by integrating over 75 data sources and leveraging AI agents. The company announced a $46 million Series B funding round on June 27, 2024, led by Meritech Capital Partners, with participation from Sequoia Capital, First Round Capital, BoxGroup, Boldstart Ventures, and top sales leaders, valuing Clay at $500 million post-money. This brought total funding to $62-66 million, including previously unannounced rounds: $13.5 million Series A led by Sequoia, $2.5 million seed led by First Round, and pre-seed from BoxGroup. Clay serves over 2,500 customers including Anthropic, Intercom, Notion, Reddit, Stytch, Opendoor, and Sigma Computing, with strong organic growth of 10x year-over-year for two years driven by word-of-mouth among go-to-market teams. The funding aims to scale the platform to power growth for tech companies by enhancing AI-driven orchestration tools that boost data coverage, research efficiency, and personalized messaging. Subsequent rounds followed: a Series B extension of $40 million at $1.25 billion valuation led by Meritech roughly six months later, a May tender offer at $1.5 billion led by Sequoia, and an August 2025 Series C of $100 million at $3.1 billion valuation led by CapitalG, with total funding reaching $204 million. Clay reported serving over 10,000 customers and projecting more than tripled revenue in the year of the Series C. |
| Jan 2019 | Series A | Sequoia Capital (lead); First Round Capital; BoxGroup; Idan Koren; boldstart ventures | $14M | - | Clay raised $13.5 million in its Series A round in 2019, led by Sequoia Capital. Participating investors included Boldstart Ventures, BoxGroup, First Round Capital, and Idan Koren, matching the specified investors. This followed a $2.5 million seed round in 2017 led by First Round Capital. |
| Jun 2017 | Seed | First Round Capital (lead); CSC Upshot; Charge Ventures; boldstart ventures; Scott Belsky; Builders VC | $3M | - | Clay is an AI-powered go-to-market development platform founded in 2017 by Nicolae Rusan and Kareem Amin that automates customer research and personalized outreach for sales and marketing teams. The company raised $2.5 million in seed funding in June 2017 led by First Round Capital to establish foundational product work and support initial growth. The platform combines data from 150+ sources with AI research capabilities to enable personalized outreach at scale, helping users build enriched customer data lists and automate outreach campaigns. Clay has since grown substantially, raising over $200 million across multiple rounds and achieving unicorn status, serving customers including OpenAI, Canva, Anthropic, Notion, and Intercom. |
Who has invested in Clay?
19 investors have backed Clay across its funding rounds, including boldstart ventures, Sequoia Capital, First Round Capital, BoxGroup, Meritech Capital Partners and CapitalG.
Lead investors include Wellington Management, CapitalG, Meritech Capital Partners, Sequoia Capital and First Round Capital.
Clay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 6 | Participant | Jun 2017 | ||
| 5 | Lead | Jun 2017 | ||
| 5 | Participant | Jan 2019 | ||
| 5 | Lead | Jan 2019 | ||
| 4 | Lead | Jun 2024 | ||
| 2 | Lead | Jun 2025 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Jan 2019 | ||
| 1 | Participant | Jun 2017 | ||
This data is available for Pro users. Sign up to see all 19 Clay investors. Start Free Trial | ||||
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Start Free TrialAcquisitions by Clay
Clay has acquired 1 company to date.
Last acquisition by Clay was on January 21st 2025. Clay acquired Avenue for undisclosed valuation.
Latest Acquisitions by Clay
| Description | Avenue is a monitoring platform that enables business operations teams to create persistent alerts directly from databases and data warehouses. Comparable to PagerDuty for operational metrics, it supports nuanced triggers beyond dashboard limitations, connecting to sources like Snowflake and BigQuery. The San Francisco-based tool reduces problem detection times from days to real-time notifications. |
| HQ Country | |
| HQ City | New York City, NY |
| Deal Date | 21 Jan 2025 |
| Valuation | undisclosed |
| EV/Revenue | |
| EV/EBITDA | |
This data is available for Pro users. Sign up to see all Clay acquisitions and their M&A valuation multiples. Start Free Trial | |
Clay Competitors
Clay competitors include listed companies like SoundHound, Rezolve AI, Appier Group and Salesforce, and private ones like Seismic and AppsFlyer.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $250M | - | $3B | 12.0x | ||
| Publicly listed | $169M | $19M | $2.7B | 11.3x | ||
| Publicly listed | $47M | ($109M) | $950M | 4.0x | ||
| Publicly listed | $281M | $44M | $1B | 2.9x | ||
| Publicly listed | $42B | $13B | $200B | 5.2x | ||
| Private | $350M | - | $2.7B | 7.7x |
Clay Public Comps
Clay is still privately-owned, but its public comps include UiPath, Zeta Global, SenseTime Group, Pegasystems, Presight AI, Klaviyo, Tenable, Lumine Group, XtalPi and CorVel.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.6B | $70M | 3.7x | 3.5x | 85.8x | 13.7x | |||
| $1.3B | $39M | 5.8x | 4.5x | 191.0x | 20.3x | |||
| $748M | ($70M) | 6.9x | 5.8x | (73.5x) | 113.7x | |||
| $1.7B | $294M | 3.2x | 3.1x | 19.2x | 11.3x | |||
| $825M | $214M | 6.3x | 5.4x | 24.4x | 20.8x | |||
| $1.2B | ($51M) | 3.1x | 2.6x | (74.0x) | 16.7x | |||
| $999M | $31M | 4.1x | 3.9x | 129.9x | 15.3x | |||
| $766M | $278M | 5.3x | 4.2x | 14.4x | 12.6x | |||
This data is available for Pro users. Sign up to see all Clay competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Clay
| When was Clay founded? | Clay was founded in 2017. |
| Where is Clay headquartered? | Clay is headquartered in New York City, NY, United States. |
| Is Clay publicly listed? | No, Clay is a private, VC-backed company. |
| What is Clay's valuation? | Clay was last valued at $7.1B in its Series D in September 2026. |
| How much funding has Clay raised? | Clay has raised $317M across 6 funding rounds. |
| What was Clay's last funding round? | Clay's last funding round was a $115M Series D in September 2026, led by Wellington Management. |
| Who are Clay's investors? | Clay's investors include boldstart ventures, First Round Capital, BoxGroup, Sequoia Capital, Meritech Capital Partners, CapitalG, Evolution Equity Partners, CSC Upshot, Wellington Management, StepStone Group and 9 others. |
| What is Clay's revenue? | Clay's latest recorded revenue is $200M (September 2026). |
| What is Clay's revenue multiple? | Clay's latest valuation implies a 35.5x revenue multiple ($7.1B valuation on $200M of revenue). |
| Which companies are comparable to Clay? | Companies comparable to Clay include Seismic, SoundHound, Rezolve AI, Appier Group, Salesforce and AppsFlyer. |
| How many companies has Clay acquired? | Clay has acquired 1 company, including Avenue. |
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