Cloud-scheduling platform Calendly is celebrating a big win this week. The black-owned tech company announced that they have partnered with Boston-based OpenView Venture Partners to invest $350 million into the platform, increasing its company valuation to $3 billion.
The tech company says they will be using the funding for product innovation and to expand their current team and structure. It is the first fundraising round since receiving its initial investment of
$550,000 from Atlanta Ventures. Since the company’s launch in 2013, the platform has managed to create a user base of over 30 million subscribers.The venture capital fund shared the news on social media about the new partnership. “We’re beyond excited to announce that @calendlyhq has closed a $350M Series B, led by OpenView,” the company wrote in an Instagram caption. “We’re thrilled to continue our partnership with this amazing company!”
Since 2020, the tech company has managed to thrive throughout the pandemic, double its number of subscriptions, and raise its revenue to $70 million. With the increase in remote working, more professionals utilize the service to schedule virtual meetings and Zoom events. It is something CEO Tope Awotona says has led the company to new heights with the new valuation.
“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,” Awotona told Atlanta Business Journal.“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.”