Full Breakdown
Clay Raises $115 Million Series D, Valuation Jumps to $7.1 Billion
By Drooid · · How we work
Funding Milestone
On September 9, New York-based AI go-to-market software company Clay announced a $115 million Series D financing that values the firm at $7.1 billion, more than double the $3.1 billion valuation after its August 2025 CapitalG-led round. The round was led by Wellington, with participation from Sequoia, Andreessen Horowitz (a16z), StepStone, Perennial, Meritech, DST, CapitalG, BoxGroup, Boldstart, Bloomberg Beta, and Evolution.
Company Background and Growth Trajectory
Founded in 2017 by Kareem Amin and Nicolae Rusan, Clay pivoted from making programming accessible to non-technical users to AI-driven go-to-market software. Its platform aggregates data from more than 100 providers, enriches it with signals such as funding events and hiring activity, and enables sales and marketing teams to identify prospects, automate outreach, and run personalized campaigns.
A Series C in August 2025 raised $100 million at a $3.1 billion valuation. An employee tender offer in January 2025 repriced the company at $5 billion. Revenue grew fourfold in 2025, and the firm crossed $100 million in annual recurring revenue (ARR) in December 2025.
Key Leadership
- Kareem Amin — CEO and co-founder.
- Nicolae Rusan — Co-founder, departed after early iterations.
- Varun Anand — Co-founder and COO, joined in 2021.
Timeline of Funding Rounds
| Date | Event |
|---|---|
| August 2025 | Series C led by CapitalG, $100 million raised, valuation $3.1 billion |
| January 2025 | Employee tender offer valued Clay at $5 billion |
| September 9 2026 | Series D closed at $115 million, valuation $7.1 billion |
| October 8 2026 *(scheduled)* | Second annual user conference “Sculpt” in San Francisco |
Financial Metrics and Customer Base
- Customers: Over 17,000 companies, including 80 % of the Forbes AI 50 and enterprises such as Anthropic, Google, OpenAI, Stripe, ElevenLabs, Workday, and Siemens.
- Revenue Outlook: Annualised revenue is on pace to reach about $200 million this quarter and roughly $240 million by fiscal-year end.
- Profitability: Briefly profitable earlier in 2026.
- Scholarship Initiative: A $1 million fund to train “GTM Engineers,” a role defined for operating its AI agents.
Official Statements from Leadership
Clay’s leadership framed the financing as a step toward establishing the platform as the default growth infrastructure for emerging companies. The CEO highlighted AI’s role in generating new companies, while the COO said the firm is operating as if an IPO were forthcoming, though none is planned.
Market Position and Competitive Landscape
Analysts place Clay in the “data and intelligence” layer of the B2B sales-and-marketing AI stack, competing with legacy providers such as ZoomInfo, 6sense, and Apollo.io. Built around AI from inception, Clay integrates over 150 data sources for its agents, which are beginning to encroach on the “execution” layer occupied by outbound AI SDR tools like Artisan and 11x.ai.
Upcoming Product Roadmap and Conference
Series D proceeds will fund product development ahead of Clay’s second annual user conference, Sculpt, scheduled for October 8 in San Francisco. The event will showcase upcoming launches and illustrate the company’s self-learning revenue engine.
Conflicting Reports & Gaps
All sources consistently report the $115 million raise, the $7.1 billion valuation, and the customer count of over 17,000. No substantive discrepancies were identified.
