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Tom York on Business: San Diego Tech ‘Unicorn’ ClickUp Valued at $4 Billion

Members of the ClickUp team. Photo from company website

It wasn’t that long ago that we were writing about startups hitting the billion-dollar ‘unicorn’ valuation. Well, how things have changed. ClickUp, which bills itself as the world’s first productivity platform, recently announced that it has raised $400 million in a Series C funding round. This investment raises ClickUp’s valuation to $4 billion.

The software has raised $535 million since June 2020. In the past year, ClickUphas tripled revenue and has grown its user base from 200,000 to 800,000 teams worldwide. The company says it now has more than 85,000 customers, including teams at McDonalds, Booking.com, Netflix and Papa John’s Pizza, according to a publicist for the firm.

The four-year-old company is developing an online “platform” that features project management, document collaboration, spreadsheet calculations, chat and other functions. A-level Silicon Valley VC-firm Andreessen Horowitz and New York investment firm Tiger Global co-led the round, with participation from two other VCs, Lightspeed Venture Partners and Meritech Capital Partners.

On Nov. 9, the company will host LevelUp, its annual productivity conference that is focused on “how today’s leaders are redefining productivity with powerful new work tools and strategies.” This is according to a spokeswoman. She said the event will be held at the Rady Shell in Jacobs Park. 

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