Only six months after obtaining the first external financing, ClickUp has closed $ 100 million in new funding and has reached a valuation of $ 1 billion, a report in Bloomberg first reported.
The company has seen a lot of growth over the past few months to justify this new unicorn status, including doubling the number of users to 2 million. In a press release, the company also stated that sales had increased nine times since the beginning of the year.
This final $ 100 million round was led by the Canadian company Georgian with the participation of Craft Ventures, This led to the $ 35 million Series A back in June. The high rating shows how eager investors are to find winners in the productivity software space, which has seen massive customer gains as an industry this year, in part due to the changing attitudes of companies towards working from home.
ClickUp is aiming for further capitalization as it scales its team and product. The 200-strong company has doubled since its last increase and is hoping to double again in the next few months, CEO Zeb Evans says TechCrunch.
ClickUp sells productivity software. However, the main sale was to link multiple products in this space onto a single platform to reduce the number of tools their customers used. The team recently started building tools like email into their platform to allow users to complete workflows within the product.
"Not only is it a value game using one app instead of three or four, it's also an efficiency game that saves so much time and frustration when all the other solutions are available," Evans told TechCrunch.
Even as the company continues to scale the product with weekly updates to the company's apps, including a redesigned iOS app launched today (Android) starts tomorrow), the team is examining how it can build in the long term.
Evans makes no promises how long this money will last. "I think this will keep us going for a while, but to be honest, I would have said the same thing about Serie A," said Evans.