Revenue operations leader Clari raises $150mn at $1.6 bn valuation

By Pavithra R

Clari, a leader in transforming revenue operations to be more connected, efficient and predictable, has announced securing $150mn in Series E investment round, bringing the company’s total valuation to $1.6bn.

The latest investment round was led by Silver Lake, with participation from B Capital Group and existing investors Sequoia Capital, Bain Capital Ventures, Sapphire Ventures, Madrona Ventures, Thomvest, and Tenaya Capital.

“Silver Lake seeks to invest in the best companies driving digital transformation. We are delighted to join this excellent investor group in support of the extraordinary team at Clari as they build on their leadership in the emerging revenue operations category,” said Ken Hao, Chairman and Managing Partner of Silver Lake.

The FinTech is planning to use the proceeds of the funding round to accelerate product development, expand ecosystem partnerships and drive global expansion. The finance round follows the company’s $60 mn Series D funding in October 2019, bringing the company’s total funding to date to $285 mn.

Clari, over the course of 2020, added blue-chip customers, processed and analyzed over 1 tn revenue data points, and delivered multiple innovations through it’s unique Revenue Operations Platform. Usage of Clari doubled as revenue teams transitioning to a virtual selling environment leveraged the company to quickly pivot their strategies and drive new growth initiatives.

Besides strong adoption of its platform, the firm continued to push Revenue Operations innovation forward, with the launch of new products and capabilities like Clari Adaptive Revenue Metrics, Clari Account Engagement and Clari Relationship Insights.

“Clari became even more strategic for revenue teams in the pandemic year, as the need for visibility and control over the revenue process became essential. The transparency and rigor of a modern Revenue Operations approach allowed Clari customers to quickly pivot their go-to-market strategies to respond to changing market conditions. Over the last year, we’ve seen record usage and engagement with our platform, as revenue teams established more accountability and discipline across their different channels,” Andy Byrne, CEO at Clari.

“Almost immediately, with Clari, we gained increased visibility into our pipeline inventory and health of deals in play. Clari is the lowest-effort, highest-return product we’ve ever used,” said Rick Capstraw, CRO at Verizon Media Platform.

The firm also saw new customer wins with companies including 3D Systems, Drift, Fivetran, iCIMS, Podium, SentinelOne, and Talend. Clari customers Qualtrics, BigCommerce, Databricks, DataRobot, HashiCorp, Sumo Logic, UiPath, Unity Technologies, and others raised private and public capital in 2020 at an aggregate valuation of over $100 bn.