![]() ![]() With COVID-19 changing the nature of work, remote-first has become the “new normal”, and Calendly has capitalized on this to become a “must have” service for businesses of all kinds. The investment in Calendly shows that a more horizontal, full-function vendor can command a higher valuation that a vertical-specific provider. Last December 2020 spa and salon vendor Zenoti became valued at over $1 billion with a $160 million round. This investment is a new high-water mark for standalone “appointment scheduling” companies. Awotana who moved to the United States when he was a teenager started the company with his savings and struggled to get funding over the years. Iconiq Capital OpenView Venture Partners Undisclosed amount Seed fund - 2014. Over the past few years, Calendly has built out strategic integrations with other business-essential platforms like Zoom, Microsoft Teams, Hubspot, GoToMeeting, and Google Analytics. In 2016 the company started becoming profitable and raised 500,000. “We are grateful to have the OpenView and Iconiq teams as advisors in our journey to $1 billion in revenue.” While some of the investment will add to our balance sheet, it will also be used to allow our early employees and early investors – who bet on this crazy idea years ago – to have some liquidity,” said Awotona. While we considered outside investment an unnecessary distraction, we made the decision to partner with OpenView and Iconiq because of their insight and extended network within the tech industry. “Our profitable, unique, product-led growth model has led to Calendly becoming the most used, most integrated, most loved scheduling platforms for individuals and large enterprises alike. Diana previously held the same title at startup giant Atlassian. The company has also brought on Jeff Diana as Chief People Officer and Patrick Moran as the first Chief Revenue Officer. The company had earlier raised 200,000 Series A funding from OpenView Venture Partners and Iconiq CapitalOpen. Calendly has again bagged a Series B round of funding worth 350,000. Investor Iconiq has made other investments in companies including Snowflake, Airbnb, DocuSign, Uber, and Epic Games.Ĭalendly now has 10 million monthly users, and even with a “freemium” business model has now reached annual recurring revenue of $70 million in 2020. OpenView is leading this round of funding and valuing the company at over 3 billion. In addition, the company stated that investments will be made in product innovation and development. The $350 million will go towards providing liquidity to early shareholders and employees. The new investment puts the company valuation at $3 billion, a record amount for an appointment scheduling company. OpenView Venture Partners, along with new investor Iconiq Capital, were part of the investment. Calendly, founded in 2013 by Tope Awotona, announced a $350 million investment, according to a statement released by the company.
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