Sunnyvale-based fintech company Clari announced Wednesday that it raised $150 million in a Series E led by Silver Lake. The fresh investment brings the newly minted unicorn’s total valuation to $1.6 billion.
In the wake of the pandemic, revenue teams have been forced to switch up their sales strategies to adjust to an exclusively virtual environment. Due to this change, Clari has seen record usage of its platform, according to CEO Andy Byrne.
“Clari became even more strategic for revenue teams as the need for visibility and control over the revenue process became essential,” Byrne said in a statement. “The transparency and rigor of a modern revenue operations approach allowed [our] customers to quickly pivot their go-to-market strategies to respond to changing market conditions.”
Clari’s revenue operations platform aims to provide enterprise teams with total pipeline visibility. Doing so ensures they can understand what coverage they have in current and future quarters and how much is needed to make that number. The platform uses AI and automation to provide users with a more complete picture of sales and marketing engagement across the entire span of the revenue process.
“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,” Alastair Woolcock, senior director analyst at Gartner, said in a statement.
The company will use the additional capital to accelerate product development and drive global expansion. The RevOps platform will also look to expand the size of its team as it continues to scale.
Clari is now hiring for dozens of open positions at a myriad of office locations. At its Sunnyvale headquarters, six positions are available across Clari’s engineering, business operations, customer success and sales teams.
Clari assists revenue teams at an array of tech heavy hitters including Okta, Zoom, Medallia, Adobe and Verizon Media Platform.
“Almost immediately, with Clari we gained increased visibility into our pipeline inventory and health of deals in play. Clari is the lowest-effort, highest-return product we've ever used,” Rick Capstraw, CRO of Verizon Media Platform, said in a statement.
Additional investors B Capital Group, Sequoia Capital, Bain Capital Ventures and Sapphire Ventures participated in the round, among others.
Clari has raised a total of $271 million in venture capital financing to date, according to Crunchbase.