![]() ![]() ![]() It also has a growing number of tools and features to enhance customer experience. The app is linked to calendars like Google and Microsoft Outlook. Still, in 2020, Calendly doubled its subscription revenue to $70 million.Ĭalendly is a cloud-based platform that provides a quick and easy way to manage time in your calendar for people to book appointments with you in the available spaces. Before then, Calendly had less than a million users, but the growth the company saw in 2020 has increased its user-base to about 10 million. The company’s high valuation is a result of the explosive growth it experienced last year. The investors include OpenView Venture Partners and Iconiq Capital, totaling the company’s value at more than $3 billion. However, the company has plans to add some new tools that will enhance their customers’ appointment scheduling experiences.Cloud-based scheduling platform Calendly recently announced that it has successfully raised $350 million in funding. Talking about this investment, Awotona said, “”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,””įor now, Calendly might look like a platform that provides a quick way to manage open spaces in your calendar. The only thing I could attribute it to was that I was black. Those VCs were ignorant and shortsighted. Meanwhile, I watched other people who fit a different ‘profile’ get money thrown at them for shitty ideas. I had a working product, and customers using it, and everyone said no. Eventually, I ran out of money and started to seek VC funding. “I raided my bank account and 401(k) to launch Calendly in 2013. When he started Calendly, he had a tough time securing investment for the product. He moved on to selling grills, but this venture met the same fate as the projectors. ![]() After that, he made an e-commerce site selling projectors, but low sales and a thin margin led to the business’s end.īut Tope didn’t give up just yet. The software startup also added two new senior executives at the end of 2020 to grow its employees and revenue.Ĭalendly was founded by Tope Awotona, who grew up in Nigeria but moved to the US when he was a teenager.īefore he started working on Calendly, he tried building a dating site that didn’t launch due to a lack of resources. It will use the $350 million investment to provide liquidity for early shareholders and employees and continue product innovation. In the past year, a new set of users, including health workers, teachers, contractors, entrepreneurs, and freelancers, have started using Calendly to schedule meetings.īefore this investment, Calendly, which has been profitable since 2016, had raised just $550,000. The reason for the surge in its usage can be credited to the now prevalent work-from-home culture. Last year, Calendly also doubled its subscription revenue to $70 million. In 2019, Calendly had less than a million users now, it currently has about 10 million people using its features. The high valuation is due to the explosive growth Calendly experienced last year. Tope Awotona’s cloud scheduling platform Calendly, has raised $350 million from OpenView Venture Partners and Iconiq capital, making the Atlanta-based company valued at over $3 billion. ![]()
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