They are taking over the tech world!
The Black-owned scheduling app Calendly just raised $350 million, pushing their value to more than $3 billion, Shoppe Black reports.
Tope Awotona founded Calendly in 2013, focusing on designing an application that would allow users to efficiently and effectively find meeting times. Since then, the app has gained about 10 million users monthly, becoming very popular. The surge of users can be attributed to the influx of people working from home during the pandemic.
The Calendly app has been a game changer since it launched.advertisement
Happy to learn they raised $350M at $3B valuation.
A Nigerian founder doing big things as an immigrant in the US. Love to see it!
— ‘Tunde Omotoye (@TundeTASH) January 27, 2021advertisement
The company reported revenues of $70 million in subscriptions last year with projections of about $1 billion in the future. Now, Calendly has closed a $350 million investment from investors like OpenView Venture Partners and Iconiq Capital, putting their value at more than $3 billion.
“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. 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,” Awotona told reporters.
— April (@ReignOfApril) January 27, 2021advertisement
The Atlanta-based company will use the funds to provide liquidity for early shareholders and employees while expanding product innovation. Calendly recently acquired two new senior executives to help expand its employee base and boost revenue. And the company has plans to add new tools that will enhance their customers’ scheduling experiences.
Thank you for keeping us on track! Congratulations, Tope!
Photo Courtesy of Shoppe Black