Home Feature New Investment Puts Atlanta-based Calendly’s Valuation at Over $3 Billion

New Investment Puts Atlanta-based Calendly’s Valuation at Over $3 Billion

by Maija Ehlinger

Even before employees flocked to productivity tools to streamline remote work, Atlanta-based Calendly wanted to streamline the arduous process of scheduling a meeting. 

But it’s no surprise that the scheduling software doubled its subscription revenue in 2020.

The company, founded in 2013 by Tope Awotona, helped propel Atlanta’s tech startup scene into the national spotlight. (You can listen to Awotona’s interview with Guy Raz on ‘How I Built This’ here). With remote-first as the new normal in businesss, Calendly has become somewhat of an essential service for teams navigating life away from traditional offices. 

Coming off a strong 2020, Calendly announced a $350 million investment, according to a statement released by the company. OpenView Venture Partners, along with new investor Iconiq Capital, were part of the investment. 

Iconiq has made other investments in companies like Snowflake, Airbnb, DocuSign, Uber, and Epic Games.

After hitting 10 million monthly users — and reaching $70 million in subscription revenue in 2020 — Calendly has brought on Jeff Diana as Chief People Officer and Patrick Moran as Calendly’s first Chief Revenue Officer. 

Diana previously held the same title at startup giant Atlassian. 

The $350 million will go towards product innovation along with providing liquidity to early shareholders and employees.

“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. While some of the investment will add to our balance sheet, it will also be used to allow our early employees and early investors – who bet on this crazy idea years ago – to have some liquidity,” said Awotona. “We are grateful to have the OpenView and Iconiq teams as advisors in our journey to $1 billion in revenue.”

Over the past few years, Calendly has built out strategic integrations with other business-essential platforms like Zoom, Microsoft Teams, Hubspot, GoToMeeting, and Google Analytics.


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