Today Calendly announced that it raised $350 million and is valued at over $3 billion. I’ve used Calendy since 2015 and am a huge fan. The team is talented and the product makes scheduling a meeting super easy. A few thoughts on this deal:
- Pandemic – The company already had an impressive growth rate, and it increased dramatically during the pandemic. They were well positioned for revenue redistribution.
- Revenue – They’re now at roughly $70 million in annual revenue. So, they’re eyeing $1 billion.
- Profitable – The company is growing rapidly and profitable—a dynamite combination.
- Hot market – The market is still hot. Investors are willing to pay higher valuation multiples for attractive growth opportunities.
Congrats to the Calendly team on a huge win! They’ve been building a great company and product for years. Can’t wait to see what happens next.