Revenue prediction startup Clari raised $150m in new funding round taking its valuation to $1.6bn.
Led by Silver Lake, the round saw participation from B Capital Group and existing investors including Sequoia Capital, Bain Capital Ventures, Sapphire Ventures, Madrona Ventures, Thomvest, and Tenaya Capital. With the new Series E round the company’s total funding raised to date comes to $285m.
The company will use the funds to scale up its product development, expand partnerships and drive global expansion. The startup also plans to double its workforce of 300 employees by the end of this year.
Essentially a software startup that helps businesses improve and forecast their revenue accurately, Clari’s platform offers sales management, finance, marketing operations. Its customers include Adobe, 3D Systems, Drift, Fivetran, iCIMS, Podium, SentinalOne and Zoom Video Communications among others.
The startup saw a surge in new users last year as revenue teams transitioned to a digital selling environment and companies amplified their efforts to increase revenue due to the Covid-19 pandemic’s impact.
One of the services on Clari’s platform used by companies is to analyse the success of sales calls and the product was especially in demand as sales firms switched from in-person meetings to phone calls.
Commenting on the new funding, CEO Andy Byrne said, “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.”
Clari processed and analysed over 1 trillion revenue data points and delivered multiple innovations through its platform last year.
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