Nigerian-born Tope Awotona’s Calendly raises $350m

Tope Awotona’s cloud scheduling platform Calendly, has raised $350 million from OpenView Project Companions and Iconiq capital, making the Atlanta-essentially based totally company valued at over $3 billion.

The high valuation is due to the the explosive command Calendly skilled ultimate year. In 2019, Calendly had no longer up to a million customers; now, it currently has about 10 million folks utilizing its functions. Final year, Calendly also doubled its subscription income to $70 million.

The clarification for the surge in its utilization would possibly just also be credited to the now prevalent work-from-home custom. Within the past year, a brand unique place of customers, including health workers, lecturers, contractors, entrepreneurs, and freelancers, possess began utilizing Calendly to agenda meetings.

Earlier than this investment, Calendly, which has been profitable since 2016, had raised legal $550,000. It can exercise the $350 million investment to offer liquidity for early shareholders and workers and continue product innovation. The instrument startup also added two unique senior executives at the pause of 2020 to develop its workers and income.

Calendly used to be founded by Tope Awotona, who grew up in Nigeria but moved to the US when he used to be a teen. 

Earlier than he began working on Calendly, he tried building a dating web page that didn’t launch due to the an absence of resources. After that, he made an e-commerce web page promoting projectors, but low gross sales and a skinny margin ended in the industry’s pause.

Nonetheless Tope didn’t quit legal yet. He moved on to promoting grills, but this endeavor met the a comparable destiny as the projectors.

When he began Calendly, he had a tricky time securing investment for the product.

“I raided my checking epic and 401(okay) to launch Calendly in 2013. At ultimate, I ran out of money and commenced to stare VC funding. I had a working product, and possibilities utilizing it, and each person said no. Meanwhile, I watched a number of folks that match a a number of ‘profile’ acquire money thrown at them for shitty tips. Those VCs had been ignorant and shortsighted. The supreme part I would possibly attribute it to used to be that I used to be dusky.” ” He instructed Inc.

Speaking about this investment, Awotona said, “”Whereas we conception to be exterior investment an needless distraction, we made the resolution to accomplice with OpenView and Iconiq due to the their perception and prolonged community within the tech industry,”” 

For now, Calendly would possibly gape adore a platform that affords a immediate formula to remove an eye on birth areas to your calendar. Then all yet again, the corporate has plans to add some unique tools that would possibly red meat up their possibilities’ appointment scheduling experiences. 

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