Oversubscribed Series C financing underscores company momentum and value realized by sales organizations using AI
Sunnyvale, Calif. — March 21, 2018 — Clari, the leading provider of AI solutions for sales, today announced it has closed $35 million in financing led by Tenaya Capital. Participating alongside Tenaya Capital are Thomvest Ventures and Blue Cloud Ventures and existing investors Sequoia Capital, Bain Capital Ventures and Northgate Capital. The new capital will be used to scale sales and marketing and accelerate product innovation for Clari’s AI-based Opportunity-to-Close (OTC) solutions which drive better and more predictable sales execution and forecasting.
“The Clari team has leveraged its deep AI expertise to build a unique platform that surfaces predictive insights for sales reps, managers, and execs during the opportunity-to-close process,” said Brian Paul, Managing Director at Tenaya Capital. “We see a massive opportunity for AI to transform how sales teams operate which is clearly validated by Clari’s customers and the impressive growth the team has achieved.”
The funding comes on the heels of a momentous 2017 for the company, marked by rapid growth and market recognition. Clari tripled its customer base with notable new customers including Adobe, Audi, Check Point Software, Equinix, Epicor Software Corporation, GE, and PerkinElmer. Gartner named Clari a 2017 Cool Vendor and the review site G2 Crowd ranked Clari among the Top 100 Software Companies, Top 50 Mid-Market Companies and Top 25 Silicon Valley Companies.
“Over the past year, we experienced tremendous growth with the C-suite embracing Clari as core to how they run their sales and forecasting processes, from opportunity to close,” said Andy Byrne, Clari Founder and CEO. “This latest round of investment will help us extend our leadership position by fueling both our go-to-market plans and Clari’s innovation engine as we aim to deliver new products and integrated partner solutions to help our customers grow faster.”
“As a growing global business, we wanted a more efficient and predictable sales process and enhanced visibility into our pipeline,” said Sudheesh Nair, President at Nutanix. “Our entire sales organization and executive team turn to Clari every day for valuable insights and analytics that show both where we’re going and how to get there.”
"Working with Clari since inception, we have been impressed with its growth and strong execution," said Aaref Hilaly, Partner at Sequoia Capital. "Clari has fast become indispensable to many of the most successful sales teams, giving them visibility into their most important metrics: rep productivity, pipeline health, and forecast accuracy.”