Just six months after raising the first external funding, Click Up reported that it had completed $100 million in new funding and reached an estimated $1 billion. The latest round of funding of $100 million was led by the Canadian company Georgian with the participation of Craft Ventures, which led the $35 million Series A of the startup in June.
The company has grown significantly over the last few months to justify this new unicorn status, including doubling the number of users to 2 million. In a news release, the company also said it has increased its revenues nine times since the beginning of the year. The high evaluation shows how keen investors are to find winners in the productivity software space, which has seen massive customer gains as an industry this year, partly because of the changing attitudes of businesses towards homeworking.
ClickUp sells productivity software, but their primary selling has been to link multiple products in that space into one platform, aiming to reduce the number of tools their customers use. The team has recently started to integrate tools such as e-mail into its platform so that users can complete workflows within the product.
Zeb Evans CEO Clickup said, “ClickUp is aiming to further capitalize as it scales its team and product. The company of 200 has doubled in size since its last raise and is hoping to double again in the next several months”.