Egypt-born Kareem Amin’s Clay raises $115M Series D at $7.1B valuation

The New York go-to-market software company has more than doubled its valuation since its $100 million CapitalG-led Series C last year, with annualised revenue now on pace to reach about $200 million this quarter.

Egypt-born Kareem Amin’s Clay has raised $115 million in a Series D led by Wellington Management at a $7.1 billion valuation, more than doubling its valuation from just over a year ago.

The round also included Sequoia, StepStone, Andreessen Horowitz, Perennial, Meritech, DST Global, CapitalG, BoxGroup, Boldstart, Bloomberg Beta and Evolution. Clay said revenue grew fourfold in 2025 and that more than 17,000 companies now use its platform, including Anthropic, Google, OpenAI, Stripe, ElevenLabs, Workday and Siemens.

When we covered Clay’s previous primary round in August 2025, CapitalG had just led a $100 million Series C at a $3.1 billion valuation. A January employee tender then valued the company at $5 billion, before the latest round pushed that figure another 42% higher.

Amin was born in Egypt and raised in Dhahran, Saudi Arabia, where his father worked as a doctor in a community of largely expatriate hospital employees. One of his first entrepreneurial experiments came there, fixing neighbours’ computers for cash after advertising the service in the compound newsletter.

He later moved to Canada to study electrical engineering at McGill University, where he met Nicolae Rusan. The pair founded Clay in New York in 2017 around a much broader idea of making programming accessible to non-technical users.

That original product went through several iterations before sales and growth teams emerged as its strongest users. Rusan subsequently left the company, while Varun Anand joined in 2021 and became a co-founder as Clay sharpened its focus on go-to-market software.

Clay now combines data from more than 100 providers with enrichment, research and workflow automation, allowing sales and marketing teams to identify potential customers and automate outreach. Its newer AI agents are intended to take that further by researching accounts, deciding when and how to approach them and executing larger parts of a company’s growth workflow.

The growth since that pivot has been steep. Clay crossed $100 million in annual recurring revenue in December 2025, having gone from $1 million to $100 million in two years. Annualised revenue is now on pace to reach roughly $200 million this quarter and about $240 million by the end of the fiscal year, according to Amin and Anand.

The company has also remained relatively capital efficient, with Amin saying Clay briefly became profitable earlier this year. Anand expects annualised revenue to double again next year.

Clay’s increasingly large customer base includes Anthropic, which uses it to research potential leads, Airbnb, which uses the platform to find hosts for its Experiences business, and DoorDash, which is using it to identify companies that could buy its employee lunch programme.

Wellington’s involvement adds a later-stage investor more commonly associated with companies approaching public markets. The firm typically begins investing two to five years before an IPO, although Amin said Clay is not currently planning to list.

He and Anand are, however, “running the company as if it were headed in that direction.”

The round takes Clay from a $1.25 billion valuation at the start of 2025 to $7.1 billion less than two years later, while giving one of the more prominent MENA diaspora founders another sizeable mark-up in the current AI cycle