Clari Raises $150M, Triples Valuation to $1.6B

Clari Secures $150 Million in Series E Funding

Clari, a leading revenue operations platform focused on revenue outcome prediction, has announced the completion of a $150 million Series E funding round. This new investment brings the company’s valuation to $1.6 billion.

The investment was spearheaded by Silver Lake, with significant participation from B Capital Group and existing investors including Sequoia Capital, Bain Capital Ventures, Sapphire Ventures, Madrona Ventures, Thomvest, and Tenaya Capital. To date, Clari has raised a total of $285 million in funding.

Increased Demand During Challenging Times

Despite the difficulties presented by 2020, demand for Clari’s services surged. The platform provides executive teams with granular insight into, and the ability to predict, revenue performance.

According to co-founder and CEO Andy Byrne, usage metrics experienced substantial growth as organizations sought greater visibility and control over their revenue forecasts. “The past year was remarkable for us, considering the positive momentum alongside the challenging global news,” Byrne stated.

Exceeding Revenue Expectations

Byrne revealed that the company surpassed its board-approved revenue plan by an impressive 110%. This strong performance has attracted considerable interest from potential investors.

He explained that venture capitalists were hearing positive reports within the investment community regarding Clari’s transformative impact. The platform delivers what the company terms “revenue confidence,” enabling businesses to accurately forecast the effects of events, such as the pandemic, on their financial trajectory.

Expanding Beyond Sales and Marketing

Initially focused on supporting sales and marketing teams, Clari is now broadening the scope of its platform. The goal is to extend the same level of predictability to other organizational functions.

Currently, Clari primarily serves technology companies, including prominent clients like HPE, Workday, and Adobe. However, the company intends to expand its reach into new industries.

Growth and Commitment to Diversity

Clari’s employee base currently stands at 300, with plans to double in size by the end of 2021. Byrne emphasized the company’s dedication to fostering a positive work environment.

Recent recognition as a top workplace by Inc., Bay Area News Group, #GirlsClub, and Built In underscores this commitment. The company acknowledges ongoing efforts to improve diversity in hiring practices and has established a board-backed commission dedicated to diversity and inclusion.

Looking Ahead: Potential IPO

With a robust financial position and a strong valuation, Byrne addressed the possibility of an initial public offering (IPO). While he refrained from providing a specific timeline, he confirmed that an IPO is a future objective.

“The answer is unequivocally yes, and we are actively preparing for this,” Byrne said. “Our immediate focus is on reaching the starting line for an IPO.”

Early Stage Event Information

Early Stage is a premier event designed to provide startup entrepreneurs and investors with practical guidance. Attendees will gain insights from successful founders and venture capitalists on building businesses, securing funding, and managing investments.

The event covers all critical aspects of company development, including fundraising, recruitment, sales, legal matters, public relations, marketing, and brand building. Each session incorporates dedicated time for audience questions and discussion.