Clay crosses $150M/year
Jan-Erik Asplund
TL;DR: In March 2026, Clay split its pricing to charge separately for data and for workflows—cutting data costs 50-90% while adding a new "Actions" meter on every workflow step, shifting monetization from data enrichment to orchestration. Sacra estimates Clay hit $150M ARR in May 2026, up from $100M in November 2025, raising at $5B in a January tender offer for a 43.5x multiple on ~$115M in January ARR. For more, check out our updated report and dataset on Clay.
Key points via Sacra AI:
- Clay pioneered credit-based pricing for AI-powered GTM tools, charging per enrichment rather than per seat and building a marketplace of 150+ data providers like People Data Labs, ZoomInfo & Hunter.io into a spreadsheet-like workflow builder where teams import prospect lists, run sequential waterfall lookups across multiple vendors to find the best email, phone number, or firmographic match, and then push enriched contacts into their CRM or sequencer to conduct the outreach.
- In March, as it built out its workflow platform, Clay overhauled its pricing to bill customers both for 1) credits on data bought through Clay's marketplace, and 2) actions for every enrichment, waterfall, CRM sync & HTTP call run inside the product, better monetizing power users who could previously run Clay at very low cost by bringing-their-own-API-key for data consumption.
- Sacra estimates Clay hit $150M ARR in May 2026, up from $108M at the end of 2025 (+260% YoY from ~$30M in 2024), valued at $5B as of its January 2026 tender (DST) for a 43.5x multiple on ~$115M in January ARR, growing at ~22% CAGR since crossing $100M in November, a pace that would put Clay at $238M at the end of 2026.
- With ZoomInfo (NASDAQ: GTM) falling 97% from a ~$27B peak market cap in 2021 to $847M today on $1.24B revenue (+1.5% YoY, NRR 90%) for a ~0.7x multiple, the proprietary contact database model is in decline even as ZoomInfo looks to move into workflows by launching its products for automated outreach (ZoomInfo Copilot) and AI-powered prospecting (GTM Studio).
- Clay, HubSpot ($3.1B revenue, +19% YoY, $9.4B market cap), and Apollo ($150M ARR) are now going head-to-head across the AI GTM stack, from AI lead scoring (Default) to workflow automation (Zapier, Workato), audience building (Hightouch, Unify), AI-native chat prospecting (Qualified, Warmly) and automated account intelligence (6sense, Common Room).
For more, check out this other research from our platform:
- Clay (dataset)
- Clay vs Apollo
- Apollo (dataset)
- Apollo.io at $150M ARR
- Apollo at $100M ARR
- Zapier (dataset)
- Wade Foster, co-founder & CEO of Zapier, on AI agent orchestration
- Airtable (dataset)
- Airtable at $375M ARR
- Zoelle Egner, early Airtable employee, on customer success for product-led companies
- David Peterson, early Airtable employee, on the future of product-led growth
- Nico Ferreyra, CEO of Default, on building an end-to-end inbound sales platform
- Bobby Pinero, CEO of Equals, on bringing joy to finance teams
- Taimur Abdaal, CEO and co-founder of Causal, on the future of the "better spreadsheet"
- Austin Hughes, CEO and co-founder of Unify, on the death of the SDR
- Matt Sornson, ex-CEO of Clearbit, on going from data to workflow company
Read more from
+1 others
