Clay raises Series C funding at $3B valuation to expand AI-driven sales automation

Clay, a startup specializing in AI-powered sales automation, has secured a Series C funding round at a valuation of approximately $3 billion. The round was reportedly led by CapitalG, although neither Clay nor CapitalG have publicly commented. This funding comes shortly after the company executed a secondary tender offer in which Sequoia Capital agreed to purchase up to $20 million in employee shares at a lower $1.5 billion valuation. While this earlier deal may seem undervalued in light of the new valuation, CEO Kareem Amin stated in May that Clay plans to conduct similar offers annually to benefit employees.

Founded in 2017, Clay found significant traction after pivoting to empower sales and marketing professionals with AI tools designed to help identify potential leads and automate outreach processes. The platform is currently used by thousands of companies, including major names like OpenAI, HubSpot, and Canva, along with over 100 smaller consulting agencies. Clay competes with established sales tech firms such as ZoomInfo and newer entrants like Unify and Common Room. Its investors now include Sequoia, Meritech Capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group.