Sequoia, Meritech Back AI Startup Clay in $46 Million Round


Last updated: June 27, 2024
varun_anand_left_and_kareem_amin
Image source: Clay

In a significant boost to the AI landscape, Clay, a sales and marketing AI startup, has secured $46 million from heavyweight investors, catapulting its valuation to $500 million.

The funding round, spearheaded by Meritech Capital Partners with strong backing from Sequoia Capital, First Round Capital, and others, marks Clay’s latest financial milestone.

This infusion brings its total funding to $66 million, a feat yet unreported until now.

Clay stands out in the bustling AI arena, where investor interest shifts towards business applications as consumer-focused AI faces hurdles.

The startup’s unique offering: a platform that aggregates web data, powered by AI agents, to automate sales and marketing workflows.

“Clay lets you pull information from everywhere on the web and then you can use AI agents on top of that,” says Kareem Amin, Clay’s co-founder and CEO. The system crafts emails and sets up messages, freeing up sales teams to forge customer relationships instead of drowning in research.

Meritech’s Alex Kurland highlights Clay’s rapid ascent, noting, “The business has really exploded over the past four to six quarters,” thanks to its robust AI integration. Clay’s clientele boasts names like Reddit Inc., Anthropic, and Notion Labs Inc., underscoring its market impact.

As Clay continues to redefine AI in sales and marketing, its trajectory offers a glimpse into the future of business automation.

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About The Author

Co-Founder & Chief Editor
Jon Morgan, MBA, LLM, has over ten years of experience growing startups and currently serves as CEO and Editor-in-Chief of Venture Smarter. Educated at UC Davis and Harvard, he offers deeply informed guidance. Beyond work, he enjoys spending time with family, his poodle Sophie, and learning Spanish.
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Growth & Transition Advisor
LJ Viveros has 40 years of experience in founding and scaling businesses, including a significant sale to Logitech. He has led Market Solutions LLC since 1999, focusing on strategic transitions for global brands. A graduate of Saint Mary’s College in Communications, LJ is also a distinguished Matsushita Executive alumnus.
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