AI Startup Clay in Talks to Raise Funding at $7 Billion Valuation Led by Wellington
The sales and marketing software maker was previously valued at $5 billion during an employee tender offer in January.
Artificial intelligence sales and marketing startup Clay is currently negotiating a new financing round that would value the company at $7 billion on a pre-money basis, according to people familiar with the deal.
Investment firm Wellington is leading the prospective funding transaction, which would mark a substantial increase in equity value for the business.
The targeted $7 billion pre-money valuation represents a sharp rise from the company's valuation earlier in the year. Clay was valued at $5 billion in January through an employee tender offer.
The transaction details were first reported by Axios reporter Lucinda Shen, citing unnamed sources with knowledge of the matter.
Clay provides artificial intelligence technology focused on sales and marketing automation, positioning itself within the enterprise software sector.
Neither Clay nor Wellington have publicly announced final terms, and additional details regarding the size of the round or expected closing timeline remain undisclosed.
Sources
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The Company Wire
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