Clay,a sales automation startup,has successfully closed a Series C funding round,achieving an approximate $3 billion valuation. The round was spearheaded by CapitalG, according to sources familiar with the deal.

Neither Clay nor CapitalG has issued a public statement regarding the funding.

This new investment follows closely on the heels of an announcement last month from the New York-based startup, revealing that employees would be permitted to sell a portion of their shares at a $1.5 billion valuation. This secondary transaction, known as a tender offer, was led by Sequoia, which committed to purchasing up to $20 million of employee stock.

While some employees may feel they missed out by selling shares at the previous, lower valuation, they are likely to have another opportunity to sell more stock at a higher price in the coming year. According to Clay’s co-founder and CEO, Kareem Amin, the company intends to conduct tender offers annually.

Founded in 2017, Clay gained importent traction in recent years after a strategic shift towards leveraging AI to empower salespeople and marketers. This pivot involved helping users discover crucial data and automate their go-to-market strategies. Clay’s platform enables salespeople to identify and update lists of potential customers and create personalized outreach emails.

Currently, Clay’s tools are utilized by thousands of clients, ranging from major corporations like OpenAI, HubSpot, and Canva, to over 100 smaller consulting firms that assist other businesses in implementing Clay for their go-to-market initiatives.

Clay faces competition from other sales technology platforms, including ZoomInfo, Lusha, and Apollo.io, as well as newer entrants like Unify and Common Room.

In addition to Sequoia and CapitalG, Clay’s existing investors include Meritech capital, Boldstart Ventures, Maple VC, First Round Capital, and Box Group.

Clay’s success is largely attributed to its focus on integrating artificial intelligence into its sales automation tools. This allows users to streamline their sales processes and improve efficiency.

“Clay allows salespeople to find and update prospective customer lists and write personalized outreach emails.”