Calendly, an Atlanta-based cloud scheduling platform, was founded in 2013 by Tope Awotona, has announced a $350 million investment funding from OpenView Venture Partners and Iconiq capital, which now values the company at more than $3 billion.
The high valuation is attributed to the exponential growth witnessed by the company in 2020.
There were fewer than a million users of Calendly; currently, it has around 10 million people using its features. Calendly doubled its subscription profits last year to $70 million.
It is possible to credit the reason for the increase in its use to the now prevalent work-from-home culture.
According to the company, the investment will be used to provide liquidity for early investors and workers as well as to continue product innovation. Two new senior executives were also added by the tech startup at the end of 2020 to expand their employees and sales.
“Our profitable, unique, product-led growth model has led Calendly to become the most widely used, most integrated, most popular scheduling platform for both individuals and large businesses,” said CEO Tope Awotona.
“While we considered outside investment an unnecessary distraction, due to their insight and extended network within the tech industry, we made the decision to partner with OpenView and Iconiq,” Awotona said.
