Funding round
ClickUp Series A
ClickUp, which works in productivity platform solutions in San Diego, raised $35M in a Series A round announced on 24 Jun 2020, led by Craft Ventures. 2 firms took part. It is ClickUp's first venture round on record.
$35M
Amount raised
Not disclosed
Post-money valuation
2
Investors
1 lead
Valuation
What this round says about the price
ClickUp did not disclose a valuation in this round. It is ClickUp's first venture round on record, 3 years after it was founded in 2017. It is 6.5% of the $535M ClickUp has raised in the venture rounds on record. ClickUp raised again 6 months later: a Series B round of $100M in Dec 2020, at $1.00B post-money.
Investors
Who put money in
Craft Ventures led the round with 1 other firm.
Lead investor
- Craft Ventures backs 197 venture-backed companies new investor
Also in the round
- backs 54 venture-backed companies new investor
Joined the board: David Sacks (Craft Ventures).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
1,223 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 3.5 times the median. The closest in time, other companies' Series A rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| RingCentral Tech Companies | 25 Jun 2020 | $40M | not disclosed | Institutional Venture Partners |
| Tech Companies | 1 Jun 2020 | $22M | not disclosed | Andreessen Horowitz |
| Tech Companies | 16 Jun 2020 | $21M | not disclosed | GGV Capital and Gradient |
| Tech Companies | 16 Jun 2020 | $20M | not disclosed | Tenaya Capital |
| Tech Companies | 11 Jun 2020 | $18M | not disclosed | Nexus Venture Partners |
| Tech Companies | 4 Jun 2020 | $18M | not disclosed | Elephant and Mosaic Ventures |
| Tech Companies | 30 Jun 2020 | $18M | not disclosed | Mubadala Capital and Bpifrance |
| Tech Companies | 3 Jun 2020 | $17M | not disclosed | Barclays |
Sources
Where this comes from
Reported by 7 sources.
Questions
Frequently asked
How much did ClickUp raise in its Series A round?
ClickUp raised $35M in its Series A round, announced in Jun 2020.
Who led ClickUp's Series A round?
Craft Ventures led it, with Georgian.
What was ClickUp's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Tech Companies?
1,223 Series A rounds in Tech Companies within a year either side disclosed an amount; the median was $10M, and this round was 3.5 times the median.
Did ClickUp raise again after this round?
Yes: a Series B round in Dec 2020 of $100M at $1.00B post-money.