Clay raises $115M at $7.1B valuation, doubling its worth in a year
What's the deal? Clay, a startup providing artificial intelligence tools for sales and marketing, has raised $115 million in a Series D round, pushing its valuation to $7.1 billion. Wellington Management led the round, with participation from Sequoia Capital, A16Z PerennialDealroom has a profile for this one. Try Dealroom →, DST Global, and CapitalG.
Why it matters: The valuation is more than double what Clay attained in its last primary round in August 2025. The raise ranks in the top tier of AI funding rounds by size.
What's the endgame? Over the past year, Clay has focused on developing agents — AI tools that operate autonomously. Its agents can automate growth plans, identify promising customers, and strategise outreach to business leads.
Clay is changing its product "to become a self-learning engine," said Alfred Lin, a partner at Sequoia.
By the numbers: Clay's annualised revenue was on pace to hit about $200 million this quarter, significantly above a year ago, according to co-founder and chief executive officer Kareem Amin. It expects to reach roughly $240 million by the end of the fiscal year and to double annualised revenue next year. The company has burned relatively little cash and was briefly profitable this year.
Who's buying? Clay has focused on landing bigger customers, said co-founder and head of operations Varun Anand. Those include AnthropicDealroom has a profile for this one. Try Dealroom →, which uses the tools to research leads; Airbnb, which finds hosts for its Experiences business; and DoorDash, which identifies companies for its employee lunch program.
Why now? Clay's growth drew Wellington, an asset manager that invests in startups likely to go public within a few years. Rob Mazzoni, a technology-focused investment executive at the firm, approached Clay this year, with talks concluding in just a few days. "It became increasingly evident that the opportunity for Clay is massive and transcends the traditional sales tools category," he said.
The signal: The round underscores how many AI startups are coming of age — posting steep growth while eyeing the next stage, including possible initial public offerings. Amin said the company is not planning an IPO soon, but he and Anand are running Clay as if it is headed that way.
Read more: The New York Times
Image credit: Generated with Gemini
