Sales automation startup Clay boosts valuation to $7.1B in $115M funding round
Clay Labs Inc., a startup using artificial intelligence to make business-to-business sales teams more productive, today announced that it has raised $115 million in funding.
Wellington Management led the Series D round. It was joined by Alphabet Inc.’s growth-stage CapitalG fund, Sequoia, Meritech and several others. Clay is now valued at $7.1 billion, $2.1 billion more than at the start of the year.
Sales teams spend a significant portion of their time searching for potential buyers. Clay’s platform uses AI to automate the task. It enables salespeople to find leads by entering a description of their target audience into a chat box. For example, an employee of an antivirus startup could ask Clay to find cybersecurity professionals at large enterprises.
The platform surfaces not only high-level company details but also business events that may create deal opportunities. For example, a consumer goods manufacturer could use Clay to find retailers that recently opened new stores.
