News | October 10, 2019

Revenue Operations Leader Clari Closes $60M Funding Round

Platform Uses AI and Automation to Help High-Performing Revenue Teams Drive Growth and Retention

Sunnyvale, CA /PRNewswire/ - Clari, provider of the leading AI-powered revenue operations platform, has closed a $60 million Series D financing round, setting a new record for total investment in the rapidly emerging revenue operations software category. To date, Clari has raised over $135 million to transform revenue operations. Clari's Revenue Operations Platform uses AI to modernize the B2B revenue process, upleveling execution, insights and forecasting for the entire go-to-market organization, including marketing, sales and customer success.

Sapphire Ventures led the round with participation from new investor Madrona Venture Group and existing investors Sequoia Capital, Bain Capital Ventures and Tenaya Capital.

"Revenue isn't just an outcome at the end of a 90-day quarter, it's a dynamic, moment-to-moment business process," said Andy Byrne, CEO, Clari. "With AI and automation, we're helping our customers run their revenue process with the same level of transparency and rigor that they expect from any other critical business process, like manufacturing, logistics, or finance. The resulting impact on their business is transformational."

Clari powers some of the fastest-growing companies in the world. In 2019, customer IPOs included Zoom, Medallia, Fastly and Datadog. Multinationals like Adobe and Lenovo, and hundreds of category leaders like Okta, Workday, Qualtrics and Alteryx all use Clari to run their revenue operations. The new financing will fuel the next phase in Clari's growth, including expanding its revenue operations partner ecosystem and investing in new AI and machine learning offerings.

"Growth and retention are the lifeblood of Chief Revenue Officers," said Jai Das, President and Managing Director, Sapphire Ventures. "CROs from many of our portfolio companies depend on Clari to manage their end-to-end revenue process to drive efficiency and predictability. What Clari's AI is calling has become an integral part of most boards' parlance, since revenue forecasts are discussed so much. Increasingly Clari is being used by the broader revenue operations team, including marketing and customer success, to not only see how leads are converting to customers, but also to predict which customers will churn and which are primed for upsells. I believe Clari is an indispensable platform for revenue operations teams in every enterprise."

Today's funding will accelerate Clari's growth, currently tracking at 200 percent. Clari's Revenue Operations Platform processed over $300B in pipeline in the past year and now supports over 50,000 sales, marketing, customer success and go-to-market professionals across 170 countries. The company is repeatedly ranked #1 in its category on the peer-to-peer review site G2.

Clari is also announcing GenR, the B2B Revenue Conference. GenR will bring together Clari customers, go-to-market professionals and industry influencers in San Francisco on March 26, 2020 discuss the latest revenue operations trends driving growth across business today. For more information on GenR Click here.

About Clari
Clari's Revenue Operations Platform helps B2B organizations increase win rates, shorten sales cycles and improve forecast accuracy by using AI and automation to create full funnel accountability across go-to-market teams. Clari is used by hundreds of sales, marketing and customer success teams at leading B2B companies including Qualtrics, Lenovo, Adobe, Dropbox, and Okta to drive pipeline, improve productivity, forecast revenue and reduce churn. Clari harvests and analyzes activity signals from dozens of different business systems, including email, calendar, CRM, marketing automation, and others to transform revenue operations to be more connected, efficient, and predictable. Visit Clari.com and follow us on LinkedIn @Clari.

About Sapphire Ventures
Sapphire Ventures is a venture capital firm focused on helping innovative technology companies become global category leaders. Leveraging nearly two decades of experience and an extensive global enterprise network, Sapphire Ventures invests capital, resources and expertise to enable its portfolio companies to scale rapidly. Whether entrepreneurs sell to businesses, consumers or both, Sapphire Ventures offers a powerful platform for business development and operational excellence to help them accelerate growth. With $2.5 billion under management via direct growth investments and early-stage fund investments, Sapphire Ventures is positioned to elevate companies to the global stage.

SOURCE: Clari

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