Market leaders in markets that matter
San Francisco, CA
Joined March 2013
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Meritech Capital retweeted
Incredible to watch @ClayRunHQ continue to execute at the highest level and build the AI revenue engine of the future. Congrats on the Series C milestone! @kareemamin @vxanand @CapitalG @jane_eliz_alex @SapphireVC @rajeevdham @MeritechCapital
Big news in the @nytimes today. @Clay_gtm just raised $100M at a $3.1B valuation to power todayโs breakout AI-native job: GTM engineering ๐
While some may debate which jobs AI will automate, we've been busy creating a new one that puts human creativity at the center.
GTM engineers combine growth acumen with AI and automation to build revenue engines. We call it "engineering" because they work within certain parameters to build scaled systemsโbut instead of coding software, they're coding revenue.
๐ช๐ฒ ๐ณ๐ถ๐ฟ๐๐ ๐ฐ๐ผ๐ถ๐ป๐ฒ๐ฑ ๐๐ต๐ถ๐ ๐ฟ๐ผ๐น๐ฒ ๐ถ๐ป ๐ฎ๐ฌ๐ฎ๐ฏ. ๐ก๐ผ๐ ๐ถ๐'๐ ๐ฒ๐๐๐ฒ๐ป๐๐ถ๐ฎ๐น.
400+ GTME jobs were posted this spring at $160K median salaries. Companies like @Cursor_ai, @Webflow, and @lovable are structuring entire departments around this function.
๐๐ง๐ ๐ฒ๐ป๐ด๐ถ๐ป๐ฒ๐ฒ๐ฟ๐ can amplify 100 salespeople by automating research, signal tracking, and messaging so reps focus on actually selling.
The career transformation stories are incredible: @ademoulin was fired as an SDR early in his careerโafter implementing Clay at Intercom, he went to President's Club this year. Umar Farooq Adam at Hitachi got promoted to a global role helping reps across hundreds of territories.
Others are building million-dollar agencies: @pspychal went from $15k in credit card debt to running a $3M agency. @ENowoslawski went from a $120K salary to $3M in ARR. @MichaelLieben_ scaled from earning โฌ36K to โฌ6M/year. 100+ agencies are implementing GTM engineering systems for other companies.
The global reach is extraordinary: From Warsaw to Manila, 60 Clay clubs are pioneering this profession. In Ukraine, organizers held Clay Club meetups despite war conditions, securing bomb shelter access for 50+ attendees. In Lahore, software engineers are pivoting to GTM engineering to earn better opportunities.
Our 10,000+ customers including @OpenAI, @AnthropicAI, and @Cursor_ai are proving that AI can amplify human creativity rather than replacing it. Anthropic tripled their enrichment coverage. @VerkadaHQ generates thousands of personalized landing pages. Cursor tracks customer mentions across social platforms in real-time.
Alphabet's @CapitalG led our Series C, joining @MeritechCapital, @Sequoia, @FirstRound, @BoxGroup, @boldstartvc, and @SapphireVC. This funding accelerates our mission to build the IDE for GTM. Just like Figma for designers or Cursor for developers.
To our ๐๐ก๐๐ฅ๐๐๐๐๐๐ ๐๐ข๐ ๐ ๐จ๐ก๐๐ง๐ฌ: this milestone belongs to you! You've turned our vision into a global movement creating real economic opportunity across continents.
We're just getting started โ weโll be shipping better agentic experiences, massively upgrading all our existing features, and rep-facing tools in the future ๐
If youโre a GTM leader whose team is bogged down by manual research, slow campaigns, or data cleaning, more effort wonโt fix things. You need better systems. GTM engineers are the people who build them.
๐ฅ๐ฒ๐ฎ๐ฑ ๐ผ๐๐ฟ ๐ณ๐๐น๐น ๐๐๐ผ๐ฟ๐ โ Link in comments
Meritech Capital retweeted
Check out the market section presentation from @MeritechCapital's 2024 Annual Meeting. We cover the public and private markets and the opportunity in AI. Some of our favorite slides in this thread and link to full preso below:
drive.google.com/file/d/1-FPโฆ
Meritech Capital retweeted
1/ We share observations about the current platform shift toward AI and its potential for disruption. Although, itโs never been a better time to be a market-leading public SaaS company. They are more valuable and efficient today than ever over the past decade. The top 10 median market cap and ARR multiples are below.
Meritech Capital retweeted
Financial planning platform @OneStream_Soft ($OS) filed for an IPO, only the 2nd of 2024. Their IPO performance should be a barometer for application SaaS companies under $500M of ARR heading into the public markets. Theyโre at $480M of ARR growing over 30%โmore about their IPO and some cool charts in the link below. Thanks Cathy, @danKnightNews1, and @amdecamillo.
meritechcapital.com/blog/oneโฆ
Meritech Capital retweeted
Given that the IPO window could open soon, we thought it was the right time to analyze what it might take for a SaaS company to go public in todayโs market. Moreover, there is a narrative that a business must be close to $1B of ARR to go public. We believe that is no longer relevant. For businesses that are $250M+ in ARR, growing quickly and durably, and with strong margins, now is the time to start thinking about the public markets. There is precedent for โsmallerโ IPOs that were massively successful in companies like CrowdStrike, Datadog*, HubSpot, Shopify, and others. Importantly, deciding to IPO isnโt just about financial profile, so weโve included questions management teams should ask themselves to help determine if they are ready for the public markets.
meritechcapital.com/blog/202โฆ
Meritech Capital retweeted
Rubrik ($RBRK) is the first SaaS company to file for an IPO in 2024. $RBRK is an almost $800M ARR business growing almost 50% year-over-year, the fastest LTM ARR growth rate among all current public SaaS companies. A lot more here:
meritechcapital.com/blog/rubโฆ
Meritech Capital retweeted
We talked last week on @theallinpod about looking at long term multiples in SaaS and our friends at @MeritechCapital sent us this chart that they keep looking all the way back to the Salesforce IPO in 2004.
Bottom line is that 6x NTM revenue is the 20 year trend.
If you run a SaaS company and your last round was meaningfully above this metric, a solid piece of advice is to manage your burn until your NTM revenue x 6 == your last valuation.
Meritech Capital retweeted
The highly anticipated @Instacart IPO is around the corner! See @MeritechCapital's S-1 Breakdown of the company that aims to break open the consumer technology IPO window.
meritechcapital.com/blog/insโฆ
Meritech Capital retweeted
Klaviyo $KYVO will be the first SaaS IPO in almost 2 years and one of the fastest-growing and most efficient public SaaS businesses when they start trading. A summary is below. Thanks @amdecamillo, Tanner, & @danKnightNews1
meritechcapital.com/blog/klaโฆ
Meritech Capital retweeted
1/ Becoming a multi-product company is a consideration for many software businesses and an area of increased focus in todayโs market environment that emphasizes strong growth and efficiency. The most successful companies have executed on a multi-product strategy.
Meritech Capital retweeted
What is the new normal for public SaaS valuations? Only 17 public SaaS companies trade >10x ARR. @MeritechCapital analyzed the financial + operating metrics of these 17 companies to show what it takes to be a member of The 10x ARR Club in 2023.
meritechcapital.com/blog/theโฆ
Meritech Capital retweeted
Had a debate about SaaS companies showing leverage in business model post IPO. Reached out to my friends @MeritechCapital on it.
- Database is 99 SaaS companies
- 66 increased "Rule of 40" (rev growth + fcf %) while public, 33 decreased
- Avg at IPO was 22%. Now 27%
- List below
Meritech Capital retweeted
Congrats @HashiCorp $HCP on their filing and upcoming IPO. Analysis below:
meritechcapital.com/blog/hasโฆ
Meritech Capital retweeted
Excited for ClickUp on their mission to make the world more productive. ClickUp's focus on making users their number one priority and an all-in-one product suite approach has enabled them to become the fastest-growing company in market. ๐๐
clickup.com/blog/series-c/
Meritech Capital retweeted
We are excited to be joining the @FloQast team and thrilled to be able to work with @MikeWhitmireFQ Chris Sluty and Cullen Zandstra and the entire FloQast crew including our other new co-investors @loganbartlett @rajeevdham
meritechcapital.com/blog/welโฆ
Meritech Capital retweeted
Excited to continue to support @Flock_Safety's mission to reduce crime and make cities safer. Congrats @glangley and the Flock Safety team! ๐๐๐
Today is a big day at Flock as we announce a $150M Series D led by @a16z! In 4 years, we have grown to solve crime in 1,200 cities.
Now we take the next step: reducing crime in the U.S. by 25% in the next 3 years!
flocksafety.com/blog/series-โฆ #detectdecodedeliver
Meritech Capital retweeted
A wonderful step toward building the next-generation of financial products for all. Come join us at @Wealthsimple to help the world achieve financial freedom!
wealthsimple.com/en-ca/magazโฆ
Meritech Capital retweeted
My team and I at Meritech have gotten many investments wrong but we got Roblox right! urldefense.proofpoint.com/v2โฆ