ClickUp joins the unicorn club after raising $400M for its all-in-one productivity platform; now valued at $4 billion
We covered ClickUp late last year after the San Diego-based task management software startup raised $100 million in Series B funding to replace other workplace apps across an organization. Since then, the company has grown exponentially. Its platform is now used by over 200,000 teams worldwide including teams within Google, Uber, Nike, and Netflix. ClickUp’s success has also caught investors’ attention with many high-profile VC firms ready to pour millions into the company.
Today, ClickUp announced it raised $400 million in a Series C funding round co-led by venture capital firm Silicon Valley heavyweights Andreessen Horowitz and technology investment firm Tiger Global Management, with participation from Lightspeed Venture Partners and Meritech Capital Partners. The round puts the company valuation at $4 billion, making ClickUp a member of the highly coveted unicorn club. The round brings the total amount raised by the San Diego-based company to over $535 million.
Founded in 2017 by Alex Yurkowski and Zeb Evans, ClickUp offers an all-in-one customizable workplace productivity platform that serves all departments across an organization. ClickUp belongs to the latter camp, selling a $5 per month per user plan (billed annually), that people access to task management software, docs and wikis, chat, and integrations with a host of other popular tools. It’s a robust set of tools that is malleable depending on the task at hand.
Since the introduction of personal computers in the early 80s, productivity software has changed the way we work and made tasks easier for office workers. Productivity software is often used for producing information (such as documents, presentations, worksheets, databases, charts, graphs, digital paintings, electronic music, and digital videos.)
However, productivity software is broken. We’re now at a point where a single organization uses at least half a dozen productivity software. There are just too many tools to keep track of, too many things in entirely separate ecosystems. With a plethora of productivity software or apps, users are now faced with the challenges of sharing data across these tools. We’ve reached the point of what some experts called application sprawl.
ClickUp’s app replaces all the apps for tasks, docs, spreadsheets, goal tracking, email, more, together in one place. ClickUp is the only productivity platform that replaces all other workplace apps across an organization. ClickUp is also used by teams within Google, Uber, Nike, and Netflix.