05-18-2021  12:38 am   •   PDX and SEA Weather
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Tope Awotona founded Calendly in 2013. (Photo Courtesy of Shoppe Black)
Published: 28 January 2021

The Black-owned scheduling app Calendly just raised $350 million, pushing their value to more than $3 billion, Shoppe Black reports.

Tope Awotona founded Calendly in 2013, focusing on designing an application that would allow users to efficiently and effectively find meeting times. Since then, the app has gained about 10 million users monthly, becoming very popular.

The company reported revenues of $70 million last year in subscriptions with projections of about $1 billion in the future. Now, Calendly has closed a $350 million investment from investors like OpenView Venture Partners and Iconiq Capital, putting their value at more than $3 billion. 

“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 said. 

The Atlanta-based company will use the funds to provide liquidity for early shareholders and employees while expanding product innovation. Calendly recently acquired two new senior executives to help expand its employee base and boost revenue. 

This story was originally published in Because of Them We Can.

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