TL;DR
- Clay, a sales automation startup, has raised a Series C round at a $3 billion valuation, per sources.
- The round was led by CapitalG, with continued support from Sequoia, Meritech, Boldstart, and others.
- The deal follows a $1.5B valuation tender offer in May, where Sequoia offered to buy $20M in employee shares.
- Clay’s AI-driven tools serve companies like OpenAI, Canva, and HubSpot, helping automate go-to-market workflows.
- Founder Kareem Amin confirmed annual tender offers are planned to help employees benefit from company growth.
Clay Quietly Closes Series C at $3B Valuation
Clay, the New York-based AI sales automation platform, has closed a Series C funding round at a reported $3 billion valuation, according to three sources with knowledge of the deal. The round was led by CapitalG, Alphabet’s independent growth fund, which has also backed notable startups like Stripe and Duolingo.
Neither Clay nor CapitalG has responded to public inquiries, but industry insiders believe the round is a significant step in Clay’s long-term ambition to dominate the go-to-market tech stack for modern enterprises.
The funding arrives just weeks after the company completed a $20 million employee stock buyback led by Sequoia, where shares were valued at $1.5 billion, suggesting the company’s value has effectively doubled within one month.
Employee Liquidity: A Sign of Strong Market Confidence
The rapid increase in valuation may seem surprising to some — especially employees who sold shares at half the current price. However, Clay’s CEO Kareem Amin signaled in May that regular liquidity events are part of the company’s vision.
“We want to make sure our team can share in the upside every year,” Amin told TechCrunch.
This forward-looking equity strategy has helped the company attract top-tier talent without locking employees into long vesting periods. It also reflects a maturing secondary market, where startup shares are increasingly viewed as liquid assets.
According to startup analysts, Clay’s annual tender plans position it among a growing cohort of high-growth private companies offering early liquidity — a model also seen at Rippling, Figma, and Notion.
AI at the Core: Clay’s Strategic Pivot
Originally founded in 2017, Clay didn’t achieve significant traction until it pivoted to AI-powered sales enablement in recent years. Under Amin’s leadership, the platform now helps businesses:
- Source and enrich prospect lists from live web data.
- Auto-generate personalized emails for cold outreach.
- Segment audiences with precision for targeted campaigns.
The product suite has resonated with both large enterprises and small consulting agencies. According to sources familiar with the company’s client base, OpenAI, HubSpot, and Canva are among Clay’s biggest customers, alongside over 100 boutique agencies that offer Clay-powered services to their own clients.
“We’re building an infrastructure layer for outbound sales that actually scales with intelligence,” Amin said in a previous interview.
The Data
Clay’s Recent Milestones (2023–2025)
| Event | Details | Source |
| Series C Valuation | $3 billion | TechCrunch |
| May 2025 Tender Offer | $1.5 billion valuation, $20M offer | TechCrunch |
| Lead Investor | CapitalG | Unnamed Sources |
| Customer Base | OpenAI, Canva, HubSpot, 100+ agencies | Company Website |
| Founding Year | 2017 | Crunchbase |
Competitive Landscape: Clay vs. Sales Tech Rivals
Clay’s rise puts it in direct competition with established players like ZoomInfo, Lusha, and Apollo.io, as well as new entrants such as Unify and Common Room.
While ZoomInfo dominates the enterprise contact data market, Clay differentiates itself with AI-native workflows and a no-code approach to sales automation. Its open integrations with tools like Salesforce, HubSpot, and Zapier also make it a flexible solution for mid-market teams.
In contrast to older incumbents that offer bulk contact lists, Clay focuses on live data enrichment, helping users find the most accurate and timely sales leads across the internet.
The result: Clay has emerged as the go-to outbound sales engine for startups scaling their first sales teams — and even for enterprises rethinking how GTM strategies are executed.
Backing the Vision: Investors Show Long-Term Confidence
Alongside CapitalG, Clay’s cap table includes some of the most prominent early-stage and growth funds in tech:
- Sequoia Capital – led the recent tender offer
- Meritech Capital – a long-time SaaS investor
- Boldstart Ventures, Maple VC, First Round Capital, and Box Group
These investors have expressed consistent confidence in Clay’s vision to modernize outbound sales, a function often overlooked by innovation despite being critical to revenue generation.
Regulatory filings and cap table insights show Sequoia’s cumulative investment now exceeds $70 million, marking Clay as one of their deeper bets in AI-backed SaaS.
What’s Next for Clay?
With a fresh round of capital and increasing momentum in the enterprise space, Clay is likely to:
- Expand internationally, targeting EMEA and APAC markets
- Launch new AI workflow modules for marketers and SDRs
- Continue offering employee liquidity to retain top talent
Founder Kareem Amin has also hinted at open-sourcing components of Clay’s automation engine in the future — a move that could help solidify its role as a platform, not just a product.
While no IPO plans have been announced, sources close to the board suggest Clay could target a public listing by 2027, depending on market conditions and sustained revenue growth.
