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- Clay
Clay Revenue, Valuation, Funding & Investors
Clay is valued at $7.1B as of September 2026, a 35.5x revenue multiple. Clay revenue was $200M, as disclosed with its latest round.
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
Sequoia Capital
boldstart ventures
First Round Capital
BoxGroup
Meritech Capital Partners
DST Global
About Clay
Clay is a software company that provides a go-to-market data and automation platform for sales, marketing and revenue teams. The platform combines prospect data from many third-party providers with AI research agents so that teams can build target lists, enrich accounts, score leads and automate personalised outreach. Customers include technology companies and other business-to-business sellers, and the product is also used by a growing group of specialists known as go-to-market engineers. Clay earns subscription revenue, with usage-based credits for data enrichment and agent work. The company was founded in 2017 by Kareem Amin and Nicolae Rusan and is headquartered in New York. It acquired the alerting and workflow tool Avenue in 2025 to add intent-signal monitoring to its platform.
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. Read the announcement ↗
The $115M round was led by Wellington Management, with participation from Evolution Equity Partners, StepStone Group, BoxGroup, Bloomberg Beta, Andreessen Horowitz and 5 other investors.
Clay's valuation has grown 14x from $500M at its Series B in June 2024 to $7.1B in September 2026, across 6 priced rounds.
Clay valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Sep 2026 | Series D | $7.1B | 35.5x |
| Jan 2026 | Secondary | $5B | - |
| Aug 2025 | Series C | $3.1B | - |
| May 2025 | Secondary | $1.5B | - |
| Jan 2025 | Series B | $1.3B | - |
| Jun 2024 | Series B | $500M | - |
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.
Clay revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Sep 2026 | $200M | $7.1B | 35.5x | Series D |
* 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, plus 2 secondary share sales.
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; DST Global; Meritech Capital Partners | $115M | $7.1B | Clay raised a $115 million Series D on 9 September 2026 at a $7.1 billion valuation, led by Wellington Management. Sequoia Capital, StepStone Group, Andreessen Horowitz's Perennial fund, Meritech Capital, DST Global, CapitalG, BoxGroup, boldstart ventures, Bloomberg Beta and Evolution Equity Partners also participated, and Clay announced a $1 million scholarship fund for people training as go-to-market engineers. The round came about a year after the $100 million Series C at $3.1 billion and followed employee tender offers at $1.5 billion in May 2025 and $5 billion in January 2026. Clay said revenue grew fourfold in 2025, annual recurring revenue passed $100 million in December 2025, and it expected annualised revenue of about $200 million in the current quarter. The company serves more than 17,000 customers, including OpenAI, Anthropic, Google and Stripe, and more than 80% of the Forbes AI 50. It was founded in 2017 and is led by chief executive Kareem Amin from New York. |
| Jan 2026 | Secondary | DST Global (lead); Conviction; Operator Collective; Frontline Ventures; Avra Capital | $55M | $5B | DST Global led a tender offer in January 2026 that allowed Clay employees to sell up to US$55 million of vested shares at a US$5 billion valuation. Conviction, Avra, Operator Collective and Frontline took part alongside a group of angels and customers, among them Stripe's Claire Hughes Johnson, Figma's Sheila Vashee, Superhuman's Shishir Mehrotra and Lenny Rachitsky. Clay called it its second employee tender in nine months and said it gave the team liquidity while bringing new investors into the company as it entered its next phase of growth. The price was more than three times the US$1.5 billion at which the Sequoia-led tender had been struck in May 2025. Clay is a New York-based software company founded in 2017 by Kareem Amin and Nicolae Rusan, whose platform lets go-to-market teams enrich prospect data with AI agents and automate outreach. It raised a US$115 million Series D at a US$7.1 billion valuation in September 2026. |
| Aug 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. |
| May 2025 | Secondary | Sequoia Capital (lead) | $20M | $1.5B | Sequoia Capital agreed in May 2025 to buy up to US$20 million of shares from current and former Clay employees in a tender offer that valued the company at US$1.5 billion. Clay allowed employees with at least a year of tenure to sell part of their vested shares to Sequoia, an existing investor that had backed the company since its 2019 Series A. The price was well above the US$1.25 billion valuation of Clay's US$40 million Series B expansion in January 2025, and the offer gave staff liquidity without a financing round. Clay is a New York-based software company founded in 2017 by Kareem Amin and Nicolae Rusan. Its platform combines data from third-party providers with AI research agents so that sales, marketing and revenue teams can enrich prospect data and automate personalised outreach. The company said revenue had grown sixfold in 2024 and that its product had taken off in 2022, after seven years of development. A US$100 million Series C at a US$3.1 billion valuation followed in August 2025. |
| Jan 2025 | Series B | Meritech Capital Partners (lead); First Round Capital; BoxGroup; boldstart ventures; Sequoia Capital | $40M | $1.3B | Clay raised a $40 million Series B expansion on 22 January 2025 at a $1.25 billion valuation, led by Meritech Capital Partners with participation from existing investors. The company described it as a pre-emptive extension of the $46 million Series B closed in June 2024, announced after revenue grew six times in 2024 and while the previous round's proceeds were still undeployed. Clay said it had more than 5,000 customers, including OpenAI, Canva, Anthropic, Ramp and Rippling, and a team of about 100 people. The funding was earmarked for its GTM development environment, including autonomous research and messaging agents. Management said it expected to end 2025 with about $100 million of revenue, but no historical revenue figure was disclosed around the round. Clay's valuation had risen from $500 million at the Series B seven months earlier, and it later raised a $100 million Series C at $3.1 billion in August 2025. Clay was founded in 2017 and is based in New York. |
| 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; boldstart ventures | $14M | - | Clay raised a $13.5 million Series A led by Sequoia Capital, which Sequoia dates to 2019 on its partnership page for the company. The round was not announced at the time; Clay disclosed it in June 2024 alongside its $46 million Series B, describing it as a previously unannounced Series A led by Sequoia. Sequoia partners Alfred Lin, David Cahn and James Flynn are listed as working with Clay, and Alfred Lin sits on its board. Existing seed investors First Round Capital and boldstart ventures remained shareholders and took part in later rounds. Clay is a New York-based software company founded in 2017 by Kareem Amin and Nicolae Rusan, whose platform helps go-to-market teams enrich prospect data and automate outreach with AI agents. By September 2026 it had raised about $320 million in total, served more than 17,000 customers and been valued at $7.1 billion. |
| Jun 2017 | Seed | First Round Capital (lead); CSC Upshot; Charge Ventures; boldstart ventures; Scott Belsky; Builders VC | $3M | - | Clay raised a USD 2.5 million seed round in June 2017, led by First Round Capital. boldstart ventures, which lists Clay among its inception investments, also took part. The company had been founded shortly before by Kareem Amin and Nicolae Rusan. The capital funded a long early product-development phase, and the product only took off in 2022 after about seven years of development. The round was first described publicly in Clay's June 2024 announcement of its USD 46 million Series B. Clay is a New York-based software company whose platform lets sales, marketing and revenue teams combine data from third-party providers with AI research agents to build prospect lists and automate personalised outreach. |
Who has invested in Clay?
21 investors have backed Clay across its funding rounds, including Sequoia Capital, boldstart ventures, First Round Capital, BoxGroup, Meritech Capital Partners and DST Global.
Lead investors include Wellington Management, DST Global, CapitalG, Sequoia Capital, Meritech Capital Partners and 1 other investor.
Clay Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 6 | Participant | Jun 2017 | ||
| 6 | Lead | Jan 2019 | ||
| 5 | Lead | Jun 2017 | ||
| 5 | Participant | Jan 2019 | ||
| 4 | Lead | Jun 2024 | ||
| 2 | Lead | Aug 2025 | ||
| 2 | Lead | Jan 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Jun 2017 | ||
| 1 | Participant | Jan 2026 | ||
| 1 | Lead | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
| 1 | Participant | Sep 2026 | ||
This data is available for Pro users. Sign up to see all 21 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, Appier Group, Salesforce and UiPath, and private ones like Seismic and AppsFlyer.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Private | $250M | - | $3B | 12.0x | ||
| Publicly listed | $169M | $19M | $1.9B | 7.4x | ||
| Publicly listed | $277M | $43M | $937M | 2.6x | ||
| Publicly listed | $42B | $13B | $189B | 4.9x | ||
| Private | $350M | - | $2.7B | 7.7x | ||
| Publicly listed | $1.6B | $70M | $7.2B | 3.4x |
Clay Public Comps
Clay is still privately-owned, but its public comps include UiPath, Zeta Global, SenseTime Group, Klaviyo, Braze, Pegasystems, Presight AI, Tenable, Lumine Group and CorVel.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $1.6B | $70M | 3.7x | 3.4x | 85.5x | 13.3x | |||
| $1.3B | $39M | 5.9x | 4.4x | 196.1x | 20.0x | |||
| $753M | ($71M) | 6.5x | 5.2x | (68.8x) | 51.2x | |||
| $1.2B | ($51M) | 4.1x | 3.4x | (97.7x) | 21.4x | |||
| $738M | ($109M) | 7.2x | 6.1x | (49.1x) | 66.7x | |||
| $1.7B | $294M | 3.0x | 3.0x | 18.1x | 11.9x | |||
| $825M | $214M | 6.0x | 4.9x | 23.0x | 19.1x | |||
| $999M | $31M | 5.7x | 5.3x | 180.0x | 20.0x | |||
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, Sequoia Capital, First Round Capital, BoxGroup, Meritech Capital Partners, CapitalG, DST Global, Evolution Equity Partners, CSC Upshot, Conviction and 11 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, Appier Group, Salesforce, AppsFlyer and UiPath. |
| How many companies has Clay acquired? | Clay has acquired 1 company, including Avenue. |
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