AI sales startup Clay is raising a new funding round at a $1.3 billion valuation, sources say

• Clay supports revenue operations and growth teams to automate outreach to potential customers.
• The company last raised a $46 million Series B at a $500 million valuation led by Meritech in June.

Clay, the AI-powered sales startup, is set to be valued at $1.3 billion in a new insider funding round, two sources told Business Insider.

Founded in 2017, Clay last raised a $46 million Series B at a $500 million valuation, which was led by Meritech Capital in June. Sequoia Capital, First Round Capital, Box Group, and Boldstart Ventures participated in that round.

Details of the latest funding round are not yet finalized, and the figures involved are subject to change.

According to its website, Clay supports revenue operations and aids growth teams to automate outreach to potential customers. The company helps go-to-market teams build a sales lead list with enriched customer data. With over 75 data providers, Clay helps its customers tailor outreach with more detailed information on potential customers such as a company's headcount and its fundraising history.

Clay's AI agent also supports research around prospects. The "Claygent" can answer questions about target companies based on company domains, such as details about its competitors. Clay's AI messaging tool can then help sales teams send tailored outbound messages to prospective customers.

The company lists Anthropic, Notion, Vanta, Ramp, and Intercom as customers on its website.

In response to a request for comment from Business Insider, Clay CEO Kareem Amin said, "We cannot confirm these details as no term sheet has been issued or signed."

Before founding Clay, Amin was the vice president of product at The Wall Street Journal. He also successfully sold his e-commerce optimization startup, Frame, to Sailthru, a marketing personalization startup, and became the latter company's director of engineering. Clay's cofounder, Varun Anand, is the head of operations and previously worked at startups Newfront and Candid.

Clay is not the only company building in this category. Apollo, a sales intelligence startup, raised a $100 million Series D led by Bain Capital Ventures at a $1.6 billion valuation last year. Other startups include Thrive-backed Unify, and Lusha, valued at $1.5 billion.