Nigerian-born Tope Awotona’s company Calendly has closed a $350M Series B, led by OpenView to fuel its growth during this pandemic putting its value at more than $3 billion.
Calendly had earlier raised around $200,000 from OpenView Venture Partners and Iconiq CapitalOpen to help users connect with their personal and business calendars to save time and simplify the tasks involved in meeting with people outside your company.
Calendly allows users to connect and agree with your invitees on the best time to meet and schedule your meetings without the back-and-forth emails.
“Calendly has been a part of the OV family since our original investment in August of 2017. We’ve been consistently impressed by Calendly’s performance, and we’re beyond excited to deepen our partnership with this significant investment,” said Blake Bartlett, Partner at OpenView.
“When we began working with Calendly’s Founder/CEO Tope Awotona, we were compelled by sheer size of the opportunity. Everyone hates the back-and-forth emails it takes to schedule a meeting. This universal pain point leads to a massive global market opportunity because meeting scheduling touches so many industries, use cases, and business processes. It even expands outside the professional realm to address my personal and prosumer use cases,” Bartlett added.
With COVID-19, Calendly has a unique ability to penetrate this global market opportunity for virtual meetings and appointments. In 2020 alone, Calendly scheduled over 100 million meetings and is becoming increasingly synonymous with scheduling and calendar management.
Founded in 2013, Tope Awotona, Calendly has gained about 10 million users monthly and has reported revenues of $70 million in subscriptions in 2020 with projections of about $1 billion in the near future.
“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 in Atlanta where the company is based.