Funding round
ClickUp Series C
ClickUp, which works in productivity platform solutions in San Diego, raised $400M in a Series C round announced on 27 Oct 2021, led by Andreessen Horowitz and Tiger Global, at a $4.00B post-money valuation. 4 firms took part, 2 of them already investors. It is ClickUp's third venture round on record; the one before was a Series B in Dec 2020.
$400M
Amount raised
$4.00B
Post-money valuation
$3.60B pre-money
4
Investors
2 leads
4.0x
Step-up from the Series B
$1.00B in Dec 2020
10%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced ClickUp at $4.00B after the new money, 4.0 times the $1.00B of its Series B (Dec 2020). The $400M bought investors about 10% of the company. It came 10 months after ClickUp's Series B. It is 75% of the $535M ClickUp has raised in the venture rounds on record. No later venture round is on record for ClickUp.
Investors
Who put money in
Andreessen Horowitz and Tiger Global led the round with 2 other firms. Lightspeed Venture Partners and Meritech Capital had backed ClickUp before.
Lead investors
- Andreessen Horowitz backs 722 venture-backed companies new investor
- Tiger Global backs 391 venture-backed companies new investor
Also in the round
- Lightspeed Venture Partners backs 454 venture-backed companies existing investor
- Meritech Capital backs 84 venture-backed companies existing investor
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
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 6.5 times the median. The closest in time, other companies' Series C rounds in Tech Companies:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Orca Security Tech Companies | 5 Oct 2021 | $550M | $1.80B | Temasek |
| Rippling Tech Companies | 21 Oct 2021 | $279M | $6.52B | Sequoia Capital |
| Tech Companies | 8 Oct 2021 | $275M | $10.00B | Sequoia Capital and Coatue |
| Tech Companies | 11 Oct 2021 | $250M | $6.00B | Greenoaks and Insight Partners |
| Tech Companies | 28 Oct 2021 | $188M | $1.30B | Sapphire Ventures |
| HiBob Tech Companies | 13 Oct 2021 | $150M | $1.65B | General Atlantic |
| Tech Companies | 7 Oct 2021 | $135M | $1.00B | Altimeter |
| Tech Companies | 26 Oct 2021 | $111M | not disclosed | not named |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did ClickUp raise in its Series C round?
ClickUp raised $400M in its Series C round, announced in Oct 2021.
Who led ClickUp's Series C round?
Andreessen Horowitz and Tiger Global led it, with Lightspeed Venture Partners and Meritech Capital.
What was ClickUp's valuation at the Series C round?
$4.00B post-money ($3.60B pre-money).
How does it compare with other Series C rounds in Tech Companies?
500 Series C rounds in Tech Companies within a year either side disclosed an amount; the median was $62M, and this round was 6.5 times the median.