Clari Raises $150M to Bring Revenue Operations to Every Business
SUNNYVALE, Calif., March 3, 2021 /PRNewswire/ -- Today Clari, the revenue operations leader, announced it has closed on $150 million in a Series E investment round, bringing the company's total valuation to $1.6 billion. This latest funding round is 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.
The company will use the proceeds of the investment round to accelerate product development, expand ecosystem partnerships and drive global expansion. This new investment follows Clari's $60 million series D funding in October 2019, bringing the company's total funding to date to $285 million.
"Silver Lake seeks to invest in the best companies driving digital transformation," said Ken Hao, Chairman and Managing Partner of Silver Lake. "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."
Over the course of 2020, Clari added blue chip customers, processed and analyzed over 1 trillion revenue data points, and delivered multiple innovations through Clari's unique Revenue Operations Platform.
"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," said Andy Byrne, CEO at Clari. "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."
Usage of Clari doubled over the course of 2020, as revenue teams transitioning to a virtual selling environment used Clari to quickly pivot their strategies and drive new growth initiatives. New customer wins include some of the world's most effective revenue teams, such as 3D Systems, Drift, Fivetran, iCIMS, Podium, SentinalOne, and Talend. Clari customers BigCommerce, Databricks, DataRobot, HashiCorp, Qualtrics, Sumo Logic, UiPath, Unity Technologies, and others raised private and public capital in 2020 at an aggregate valuation of over $100 billion.
"Almost immediately, with Clari we gained increased visibility into our pipeline inventory and health of deals in play," said Rick Capstraw, CRO at Verizon Media Platform. "Clari is the lowest-effort, highest-return product we've ever used."
In addition to the strong adoption of its platform, Clari continued to push Revenue Operations innovation forward, with the launch of new capabilities and products like Clari Adaptive Revenue Metrics, Clari Account Engagement and Clari Relationship Insights.
"By 2025, Gartner predicts 75 percent of high-growth tech companies will use RevOps for end-to-end revenue production enabling hyperautomated sales and omnichannel customer engagement," said Alastair Woolcock, Senior Director Analyst at Gartner, et al. "RevOps is a holistic organizational model that aligns the company around three elements of centralized ops and processes, a communal shared-data layer, and a continuous customer engagement capability, all measured around revenue production."
To continue the momentum of the Revenue Operations movement, Clari is hosting the Generation Revenue (GenR for short) conference on May 11-12, where sales and operations leaders will meet to share insights on the role of a modern revenue operations approach in driving strategic go-to-market initiatives. Registration is now open here.
Clari is hiring across all departments, and was recently recognized as best places to work by Inc., Bay Area News Group, #GirlsClub and Built In. For more information about Clari and Revenue Operations visit clari.com.
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