ClickUp announces $400M in Series C funding and major European expansion
ClickUp accelerates hypergrowth and unveils plans for significant investment in Europe, creating hundreds of local jobs
SAN DIEGO, Oct. 27, 2021 /PRNewswire/ -- ClickUp, the world's only all-in-one productivity platform, today announced that the company has raised $400 million USD in Series C funding to reshape how teams work and give businesses a competitive advantage. This new round brings ClickUp's total funding to $535 million USD and puts the company at a $4bn USD post-money valuation.
The new investment will support the creation of 600 European jobs, a regional European headquarters and a new development centre. With forty percent of the company's sales already generated outside of the US, this new investment will provide a more localised experience for the more than 275,000 European teams already using ClickUp. ClickUp will also be investing in localised versions of its platform for France, Germany and Spain to support the continued growth in these countries, with further localisations planned.
"Today's announcement signals the start of our ambitious expansion plans," says Mark Stoddard, Head of International Operations at ClickUp. "We are already seeing incredible growth across the region, especially in the UK which is our fastest-growing market outside of the US. By investing in Europe, we will enhance the experience of our existing customers and attract even more local companies to the productivity gains ClickUp delivers."
The Series C funding, co-led by Andreessen Horowitz and Tiger Global, with participation from Lightspeed Venture Partners and Meritech Capital Partners, represents the largest Series C funding round to date in the workplace productivity market.
"ClickUp's sole purpose has always been to make the world more productive. Time is our most valuable resource and we are committed to giving people more time to focus on what matters most to them," says Zeb Evans, CEO and Founder of ClickUp. "We believe software should make people more productive and efficient. I'm thrilled about our next chapter and accelerating the innovations that deliver on this promise to our customers."
ClickUp is one of the fastest-growing SaaS companies in the world thanks to its flexible productivity platform that moulds to the way people want to work. It is the only solution that truly replaces all individual workplace productivity tools within a single, unified platform, including: project management, document collaboration, spreadsheets, chat, and goals.
In the last year, ClickUp has tripled its revenue and grew its user base from 200,000 to 800,000 teams worldwide. Businesses all over the world, including teams at McDonalds, Booking.com, and Netflix, are choosing ClickUp to meet the demands of their evolving workplaces.
"ClickUp's unique offering in the market has fueled their rise as one of the fastest-growing SaaS startups in the world. Their strong growth, product adoption, and customer retention reflect the tremendous value they're providing to businesses looking to drive greater productivity and efficiency," said David George, general partner at Andreessen Horowitz. "ClickUp is synonymous with the future of work, and we're thrilled to partner with a company that has shown such a strong commitment to its users and product. We look forward to building a more productive world together."
To learn more about ClickUp's funding and growth, visit www.clickup.com/blog/series-c, or to try ClickUp free forever and start saving you and your team one day every week, visit www.ClickUp.com.
About ClickUp
ClickUp is the world's only all-in-one productivity platform that flexes to the way people want to work. It replaces all individual workplace productivity tools with a single, unified platform that includes project management, document collaboration, spreadsheets, chat, and goals. Founded in 2017 and based in San Diego, ClickUp is on a mission to make the world more productive. As one of the fastest-growing SaaS companies in the world, ClickUp has helped more than 800,000 teams and millions of users lead a more productive life and save at least one day every week. To learn more, visit www.ClickUp.com.
About Andreessen Horowitz
Andreessen Horowitz (a16z) is a Silicon Valley-based venture capital firm that backs bold entrepreneurs building the future through technology. The firm is stage agnostic, investing in seed to late-stage technology companies, across the consumer, enterprise, bio/healthcare, crypto, and fintech spaces. a16z has over $19 billion in assets under management across multiple funds. See portfolio companies here: https://a16z.com/portfolio/.
About Tiger Global
Tiger Global Management is a leading global technology investment firm with over $90 billion under management. The firm focuses on private and public companies in the software, internet, and financial technology sectors. Since 2001, Tiger Global has invested in hundreds of companies across more than 30 countries, including investments ranging from Series A to pre-IPO. The firm aims to partner with dynamic entrepreneurs operating market-leading companies in its core focus areas. Tiger Global's investments have included JD.com, Toast, Databricks, UiPath, Stripe, Bytedance, Snowflake, Facebook, Alibaba, Procore, Chime, Peloton, Attentive, LinkedIn, and Flipkart.
About Lightspeed Venture Partners:
Lightspeed Venture Partners is a multi-stage venture capital firm focused on accelerating disruptive innovations and trends in the Enterprise, Consumer, and Health sectors. Over the past two decades, the Lightspeed team has backed hundreds of entrepreneurs and helped build more than 400+ companies globally, including Snap, AppDynamics, Affirm, Epic Games, MuleSoft, and Guardant Health. Lightspeed and its affiliates currently manage $10.5B across the global Lightspeed platform, with investment professionals and advisors in Silicon Valley, Israel, India, China, Southeast Asia, and Europe. www.lsvp.com
About Meritech Capital Partners
Meritech Capital Partners is a leading provider of late-stage venture capital to category-defining private technology companies, and has been one of the top-performing venture firms of the past two decades. The firm was founded in 1999 and has cumulatively managed almost $4 billion in total capital. Past and present investments include Alteryx, Anaplan, Auth0, Braze, Coupa, Datadog, Facebook, Looker, MuleSoft, NetSuite, Outreach, Proofpoint, Roblox, Salesforce, Segment, Snowflake, Tableau, and UiPath. The firm has offices in Palo Alto and San Francisco, CA and can be found at www.meritechcapital.com.
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