Clari Diligence Research Report
Clari's value depends on whether its revenue orchestration, Salesloft/Groove/Wingman assets, enterprise customer base and Revenue AI dataset can produce durable ARR growth and retention at attractive margins while surviving intense suite-vendor competition, privacy/AI scrutiny and post-merger integration risk.
Clari Diligence Research Report
Proceed with diligence, but underwrite Clari as a post-merger Clari + Salesloft private enterprise software company rather than a clean standalone 2022 unicorn. Public evidence supports private-unicorn eligibility, active operations, a $225M Series F at more than $2.6B, broad revenue-AI product surface and named enterprise customers. The largest gaps are current financials, pro forma valuation, cap table, customer concentration, retention, product economics, AI/privacy controls, litigation/IP schedules and merger integration.
The $2.6B valuation is a January 2022 public anchor; no current ARR, revenue, burn, runway or pro forma post-merger valuation is public.
Diligence request: Request audited financials, board model, cash/debt/runway, cap table, 409A/fair-value marks and post-merger pro forma valuation support.
Clari merged with Salesloft after the latest public Clari valuation; ownership split, preference stack, debt and combined-company governance are not public.
Diligence request: Request merger agreement, cap table, investor rights, debt, option pool, board approvals and pro forma equity economics.
Public sources disclose customer counts and case studies, not ARR, churn, NRR, backlog, AR aging or cohort retention.
Diligence request: Request customer revenue schedule, cohorts, NRR/GRR, churn, backlog, AR aging, pipeline and customer references.
Named logos and 5,000+ combined organizations do not show revenue concentration, customer overlap or renewal risk after Salesloft merger.
Diligence request: Request top customers by ARR/volume, overlap analysis, renewal calendar, churn reasons and reference calls.
Clari processes CRM, email/calendar, contact and conversation data and uses cloud/AI subprocessors; scope, exceptions and incident history require review.
Diligence request: Request SOC reports, DPAs, AI governance, subprocessors notices, incident logs, DPIAs, DSAR logs and customer audit history.
Wingman, Groove and Salesloft add product, customer, workforce and legal integration complexity, with terms and integration KPIs not public.
Diligence request: Request integration plan, synergy model, product rationalization, retention metrics, acquired liabilities and customer migration KPIs.
Clari overlaps with Gong, Salesforce, HubSpot, Outreach and Terret/BoostUp across forecasting, engagement, pipeline, conversation intelligence and AI agents.
Diligence request: Request win/loss, pricing, discounting, renewal uplift, market-share and customer reference evidence.
The platform spans many modules and integrations with CRM, communication, data and AI systems; API changes and product overlap can degrade reliability or margins.
Diligence request: Request architecture, uptime/SLA, incident history, integration usage, support burden and vendor-contract terms.
Public evidence verifies Clari's unicorn funding history and active post-merger status, but core financial statements, current valuation, cap table, debt, projections and unit economics are not public.
not publicly verifiable confidence: high
No public audited consolidated financials, management accounts, backlog or AR aging were found. Public anchors are financing, usage and customer-count statements only.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| 2020 usage | Series E release says usage doubled during 2020. | verified | Request monthly active users, seats, retention and ARR cohorts. |
| 2021 customer count | Series F release says more than 450 companies used Clari. | verified | Request customer count definition and ARR by customer. |
| Post-merger scale | 2025 merger release says combined company will serve over 5,000 organizations. | verified | Request pro forma revenue, retention and customer overlap analysis. |
| Financial statements | No public audited consolidated financials or periodic reports were found. | not_publicly_verifiable | Request audited financial statements, management accounts, backlog and AR aging. |
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| ARR / revenue | No current ARR, GAAP revenue or billings disclosure identified. | not_publicly_verifiable | Provide revenue bridge by product, geography, channel and customer cohort. |
| Gross margin / COGS | No public product-level gross margin or cloud/AI COGS schedule. | not_publicly_verifiable | Provide gross margin by product and vendor, including AI/transcription cost. |
| Burn / runway | No public cash balance, burn rate, debt or runway metrics. | not_publicly_verifiable | Provide cash, debt, covenants, monthly burn and 24-month liquidity plan. |
not publicly verifiable confidence: high
No public three-year forecast, budget, financing plan or scenario analysis was found. Public sources indicate growth ambitions and R&D investment but not financial assumptions.
partially verified confidence: high
Public sources show CB Insights and financing valuation anchors plus a 2025 Salesloft merger, but do not disclose shares, options, warrants, debt, preferences, investor rights or combined-company ownership.
| stakeholder or item | public position | verification status | diligence caveat |
|---|---|---|---|
| CB Insights valuation row | $2.60B Clari valuation row; joined 2021; Enterprise Tech; Sunnyvale. | verified | Tracker row is not current fair value or preference stack. |
| Series F investors | Blackstone Growth led; several existing/new investors named. | verified | No ownership percentages, preferences, side letters or option pool disclosed. |
| Salesloft merger | Clari and Salesloft completed merger in Dec. 2025; Steve Cox became CEO. | verified | Post-merger ownership split, valuation and debt are not public. |
| Public-company status | SEC CIK record shows no ticker and only Form D in recent record reviewed. | partially_verified | Confirm legal entity status, charter, stock ledger and any exchange/IPO filings. |
partially verified confidence: medium
Public funding history is reasonably documented. Tax positions, accounting policies, revenue recognition, debt and acquisition accounting are not public.
| date | round | amount | valuation | lead or participants | verification status | diligence caveat |
|---|---|---|---|---|---|---|
| 2014-06-17 | Series B | $20M | not disclosed | Bain Capital Ventures; Northgate; Sequoia | verified | Request stock ledger and preferred terms. |
| 2018-03-21 | Series C | $35M | not disclosed | Tenaya; Thomvest; Blue Cloud; Sequoia; Bain; Northgate | verified | Request ownership and liquidation preference schedule. |
| 2019-10-10 | Series D | $60M | not disclosed | Sapphire; Madrona; Sequoia; Bain; Tenaya | verified | Confirm total raised and any secondary/debt components. |
| 2021-03-03 | Series E | $150M | $1.6B | Silver Lake; B Capital; Sequoia; Bain; Sapphire; Madrona; Thomvest; Tenaya | verified | Reconcile unicorn date with CB Insights and financing documents. |
| 2022-01-19 | Series F | $225M | more than $2.6B | Blackstone Growth; Silver Lake; Light Street; Maverick; B Capital; Bain; Madrona; Sapphire; Sequoia; Tenaya | verified | Latest public priced round is stale and pre-merger. |
Clari publicly presents a broad AI revenue orchestration suite after Wingman, Groove and Salesloft. Product breadth is verified at marketing level; product economics, reliability and roadmap metrics are private.
partially verified confidence: high
Public pages verify a product suite covering revenue orchestration, forecasting, Copilot/conversation intelligence, Groove sales engagement, Align, Guide, Cadences, RevDB, integrations and AI agents. Public pages do not verify product-level revenue, growth, market share, cost structure or profitability.
| product | audience | public features | verification status | diligence request |
|---|---|---|---|---|
| Revenue Orchestration Platform | Enterprise revenue teams | AI and Revenue Context unify data, orchestrate workflows and guide actions. | verified | Request architecture, adoption metrics and module-level ARR. |
| Forecast | Sales/revenue leaders | Forecasting and pipeline management. | verified | Request forecast-accuracy benchmarks and data-quality controls. |
| Copilot | Sales managers and reps | Conversation intelligence and coaching. | verified | Request call-recording consents, transcription vendor terms and adoption. |
| Groove by Clari | Sales engagement teams | Sales engagement and prospecting platform. | verified | Request integration plan, retained customers and product economics. |
| RevDB / AI agents / Guide / Cadences | RevOps, CRO, frontline sellers | Revenue database, AI agents, action hub and repeatable revenue workflows. | partially_verified | Request roadmap, model governance, data rights and launch KPIs. |
| vendor | public pricing signal | product overlap | verification status | diligence request |
|---|---|---|---|---|
| Clari | Tailored to unique use case; no extra platform fees for integrations/support; no per-seat list price found. | Target company. | partially_verified | Request price book, ACV distribution, discounting and renewal uplifts. |
| Gong | Revenue intelligence platform; pricing not benchmarked in this report. | Conversation intelligence, deal visibility, coaching and forecasting adjacency. | partially_verified | Run price/feature win-loss benchmark. |
| Salesforce | Sales Cloud/Agentforce competes as CRM system of record and AI sales layer. | CRM, forecasting, AI agent workflows. | partially_verified | Assess dependency and displacement risk inside Salesforce accounts. |
| Outreach / HubSpot / Terret | Public pages emphasize engagement, forecasting, pipeline and AI sales software. | Sales engagement, pipeline, forecasting, revenue AI. | partially_verified | Compare price, implementation time, enterprise depth and customer outcomes. |
Public sources show named enterprise customers and aggregate customer-count anchors, but not top customer revenue, concentration, churn, NRR or supplier contracts.
partially verified confidence: high
Customer stories and press releases name customers and use cases, but no top-15 customer schedule by application was public.
| customer | public use case | source type | verification status | diligence gap |
|---|---|---|---|---|
| Tipalti | Case study says Tipalti transformed revenue operations with Clari AI. | Company customer story | verified | Contract value, renewal date and reference call. |
| Gamma | Case study says Gamma boosted forecast accuracy by 15% with Clari Cadences. | Company customer story | partially_verified | Baseline, measurement method and deployment scope. |
| UiPath | Case study says 10-15% fewer slipped deals and 5-10% higher renewals. | Company customer story | partially_verified | Revenue contribution and retention confirmation. |
| Okta / Adobe / Workday / Zoom / Finastra | Named in Series F boilerplate as leading companies using Clari. | Company press release | verified | Active contract status and ARR by customer. |
| Combined Clari + Salesloft customer base | Merger release says over 5,000 organizations globally. | Company press release | verified | Customer overlap, churn and pro forma ARR after merger. |
partially verified confidence: medium
Public relationship evidence includes PE/VC partners, integrations and the Salesloft merger. Revenue contribution and contract terms are not public.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| PE/VC partner program | Partner page says investment firms can provide portfolio companies exclusive pricing and support. | verified | Request partner list, revenue contribution and exclusivity terms. |
| Blackstone portfolio relationship | Series F release says Blackstone planned to evaluate Clari across 250+ portfolio companies. | verified | Request realized pipeline/revenue, discounts and related-party terms. |
| Integrations partners | Integrations page invites integrations partners and lists broad tool ecosystem. | verified | Request integration partner agreements, SLAs and API-change protections. |
| Salesloft merger | Definitive agreement and completion releases show strategic combination. | verified | Request merger agreement, integration plan and customer/product overlap analysis. |
not publicly verifiable confidence: high
Revenue by customer, including any 5%+ customer, is not publicly disclosed. Public customer-count anchors are aggregate only.
not publicly verifiable confidence: medium
No public list of severed customers, partners or suppliers was found. The Salesloft merger creates a need to assess overlap and churn since 2025.
partially verified confidence: high
Public subprocessors and integrations identify important vendor categories, but spend, SLAs and supplier agreements are not public.
| supplier or category | role | evidence status | concentration risk | diligence request |
|---|---|---|---|---|
| Amazon Web Services | Cloud hosting, storage, processing, AI analysis/insights. | verified | Cloud reliance and data-residency controls. | Request AWS architecture, spend, commitments, SLAs and DR tests. |
| Google Cloud | Cloud infrastructure, data warehouse, speech-to-text, AI analysis/insights. | verified | Copilot/transcription and meeting integrations may depend on vendor APIs. | Request vendor terms, subprocessor notices and model/data-use restrictions. |
| Microsoft Azure | AI analysis and insights. | verified | AI model/data processing dependency. | Request AI governance, model routing and data-retention controls. |
| Salesforce, Snowflake, PubNub, Twilio, Mixpanel | CRM/contact storage, data warehouse, messaging, SMS and analytics. | verified | APIs, uptime, privacy and contract terms may affect service delivery. | Request top vendor contracts, security addenda and continuity plans. |
Clari competes in a crowded revenue intelligence, sales engagement, CRM and AI forecasting market against Gong, Salesforce, HubSpot, Outreach and Terret/BoostUp, among others.
partially verified confidence: medium
Public competitor pages show material overlap across revenue intelligence, AI agents, sales engagement, forecasting, pipeline management and CRM systems. Clari's differentiation must be proven with win/loss, pricing and customer outcome data.
| competitor | public capabilities | differentiator to test | verification status |
|---|---|---|---|
| Gong | AI-powered insights, buyer engagement visibility, forecasting and coaching. | Clari + Salesloft end-to-end dataset and forecasting depth. | verified |
| Salesforce Sales Cloud / Agentforce | AI agents across deal cycle and sales force automation. | Clari's cross-system Revenue Context versus native CRM bundling. | verified |
| HubSpot Sales Hub | AI sales software for pipeline and closed deals. | Enterprise depth and RevOps governance versus broad SMB/mid-market CRM suite. | verified |
| Outreach | Pipeline management, sales forecasting, deal insights, sales engagement and MAPs. | Combined Clari + Salesloft coverage after merger. | verified |
| Terret / BoostUp | Answer-to-action revenue engine, forecasting and conversation intelligence. | Scale, enterprise integrations and prediction accuracy. | verified |
| axis | clari public position | competitor pressure | evidence strength | diligence request |
|---|---|---|---|---|
| AI/data context | Revenue Context, 10B interactions and 1T signals post-merger. | Gong and Salesforce also market AI/revenue intelligence. | medium | Request model performance, data rights and benchmark outcomes. |
| Workflow breadth | Forecast, engagement, Copilot, Align, Cadences, Guide, RevDB. | Outreach, Salesforce and HubSpot cover many adjacent workflows. | high for public breadth | Request product adoption by module and attach rates. |
| Enterprise integrations | Broad CRM, engagement, data and security integrations. | Native CRM vendors can bundle functionality. | high for integrations list | Request API health, integration usage and switching costs. |
| Price / ROI | Custom pricing; selected customer metrics and ROI claims. | Bundled or platform pricing may pressure standalone modules. | low to medium | Request price book, discounting, win/loss and reference ROI. |
Clari's public GTM appears enterprise sales-led with partner, integration and content motions. Funnel metrics, channel mix, CAC/payback, quota and budget sufficiency are not public.
partially verified confidence: medium
Public GTM strategy centers on enterprise demo/contact sales, customer proof, security/compliance collateral, integrations and partner channels including PE/VC partners.
| channel | public evidence | known weight | verification status | diligence request |
|---|---|---|---|---|
| Direct enterprise sales | Pricing page drives demo/contact sales for tailored use case. | not disclosed | partially_verified | Request bookings by sales channel and segment. |
| PE/VC partnerships | Partner program offers exclusive pricing/support to portfolio companies; Blackstone portfolio channel noted. | not disclosed | verified | Request partner-sourced ARR and CAC/payback. |
| Integrations ecosystem | Integrations page invites partners and lists CRM/engagement/data ecosystems. | not disclosed | verified | Request marketplace/channel-sourced pipeline and partner agreements. |
| Customer proof and content | Customer stories, videos, reports and case studies support enterprise demand generation. | not disclosed | verified | Request content attribution, conversion, pipeline and CAC. |
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| Funding and category narrative | Series F called Clari the revenue operations leader and highlighted predictable growth. | verified | Request brand awareness and demand-generation performance. |
| Clari + Salesloft narrative | Merger messaging positions the combined company as a Revenue AI powerhouse and Predictive Revenue System. | verified | Request post-merger messaging conversion and customer retention metrics. |
| Status/transparency surface | Trust/status page publicly communicates incidents and components. | partially_verified | Request SLA adherence, incident root causes and customer credits. |
| Security/compliance collateral | Security page lists certifications and assurance center access. | partially_verified | Request security docs impact on enterprise deal cycles. |
not publicly verifiable confidence: high
Major-customer status, growth prospects and pipeline are not public beyond logos and case-study narratives.
partially verified confidence: medium
Public avenues include contact-sales, case-study/content marketing, PE/VC partners, consulting/integration partners and cross-sell from Salesloft/Groove/Wingman assets.
not publicly verifiable confidence: high
Quota, attainment, sales cycle, ramp, compensation and hiring plans are not publicly disclosed.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| Quota and attainment | Not disclosed in public sources. | not_publicly_verifiable | Provide quota, attainment, ramp and rep productivity by segment. |
| Pipeline and forecast accuracy | Customer stories disclose selected outcomes, not internal pipeline quality. | not_publicly_verifiable | Provide pipeline by stage/source, conversion, slippage and forecast accuracy. |
| CAC/payback and discounting | No public CAC, payback, discount or ACV schedule. | not_publicly_verifiable | Provide CAC, payback, ASP/ACV and discounting by channel and cohort. |
not publicly verifiable confidence: high
Budget sufficiency cannot be assessed publicly because current financials, pipeline, CAC/payback, merger integration costs and marketing budgets are not public.
Public R&D signals include AI agents, Revenue Context, RevDB, Copilot, Wingman, Groove and Salesloft integration. R&D budget, org structure, roadmap costs, model governance and technical debt remain private.
partially verified confidence: medium
Public sources identify CTO, CISO and CPO roles and product/security surfaces, but not R&D org chart, engineering headcount, development process, technical debt or release metrics.
| name or role | public title | relevance | verification status | diligence request |
|---|---|---|---|---|
| Rajesh Krishnaswami | Chief Technology Officer | Technical roadmap, architecture and AI execution owner. | verified | Request technology org chart, roadmap and technical debt overview. |
| Peter Liebert | Chief Information Security Officer | Security program, certifications and incident-response owner. | verified | Request SOC 2, ISO certificates, pentest summary and incident history. |
| Kylie Fuentes | Chief Product Officer | Product roadmap, integration and post-merger product packaging. | verified | Request product roadmap and module-level adoption. |
| Engineering/R&D org | not fully public | AI agents, RevDB, Copilot and integrations require substantial R&D capacity. | not_publicly_verifiable | Request engineering headcount, attrition, release velocity and quality metrics. |
partially verified confidence: medium
The most visible pipeline is post-merger Revenue AI: AI agents, Revenue Cadences, Guide, Revenue Context and Predictive Revenue System, plus integrated Wingman/Groove/Salesloft assets. Development cost, timing and risks are not public.
| initiative | status publicly observed | evidence status | key risks | diligence request |
|---|---|---|---|---|
| Wingman conversation intelligence | Acquired in 2022; capabilities incorporated into Clari Copilot/conversation intelligence narrative. | verified | Recording consent, transcription accuracy, integration and privacy. | Request integration metrics, privacy controls and support load. |
| Groove sales engagement | Acquisition announced in 2023; Groove by Clari product page is active. | verified | Customer migration, product overlap with Salesloft, integration complexity. | Request retained ARR, churn and roadmap rationalization. |
| Salesloft merger / Predictive Revenue System | Merger completed Dec. 2025; doubled R&D investment and AI agents highlighted. | verified | Post-merger roadmap execution and data-rights/model governance. | Request integration plan, R&D budget, AI policy and launch KPIs. |
| RevDB / Revenue Context | Product pages and merger releases emphasize RevDB and Revenue Context. | verified | Scalability, security, data quality and competitive replication. | Request architecture, uptime, model/data lineage and customer outcomes. |
Public pages identify the current C-suite and geographic footprint after the Salesloft merger, but not a complete org chart, headcount history, compensation, stock plans, employee relations or turnover data.
partially verified confidence: medium
A complete org chart is not public. About page provides a C-suite roster and post-merger CEO appointment.
Reporting lines are inferred from C-suite hierarchy and must be verified with the company.
partially verified confidence: medium
Series F disclosed over 500 employees in 2021 and a 2022 plan to add 300; current post-merger headcount by function/location is not public. About page lists broad regional footprints.
| anchor | value | verification status | diligence request |
|---|---|---|---|
| 2021 team size | Series F says Clari more than doubled team to over 500 in 2021. | verified | Request actual 2021-2026 headcount by function/location. |
| 2022 hiring plan | Series F says plan to add another 300 employees in 2022. | verified for plan, not actual | Compare plan versus actual hires and attrition. |
| Current locations | About page lists North America, EMEA and India footprints. | verified | Request entity map, employee census, contractors and remote-work policy. |
| Post-merger workforce | No current combined-company headcount disclosed in reviewed sources. | not_publicly_verifiable | Request Clari + Salesloft pro forma headcount, duplicative roles and retention plan. |
partially verified confidence: medium
Public roles are available for the C-suite; full biographies, tenure, references, outside interests and background checks are not public.
| name | role | source note | diligence request |
|---|---|---|---|
| Steve Cox | Chief Executive Officer | Named CEO in completed-merger press release and about page. | Request employment agreement, incentives, references and mandate. |
| Kevin Fisher / Brian Benfer / Laurie Ehrbar / Rick Hasselman | COO / CRO / CMO / CFO | Listed on about page. | Request biographies, tenure, compensation and post-merger responsibilities. |
| Sophie Kunsa / Rajesh Krishnaswami / Peter Liebert / Mike Meyer | CCO / CTO / CISO / CIO | Listed on about page. | Request customer, technology, security and IT org plans. |
| Kylie Fuentes / Sara Cohen / Eric Rosenbower | CPO / Chief People Officer / Chief of Staff | Listed on about page. | Request product roadmap, HRIS, retention plan and governance details. |
not publicly verifiable confidence: high
Executive employment agreements, compensation arrangements, benefits and severance terms are not public.
not publicly verifiable confidence: high
Stock plans, option pool, grants, vesting, refresh policy and post-merger equity treatment are not public.
not publicly verifiable confidence: medium
No public employee-relations schedule was identified. The standard report did not include private employee surveys or litigation schedules.
partially verified confidence: medium
Public evidence shows a CEO transition after the merger, but not employee turnover rates for the last two years or benefit retention data.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| CEO transition | Agreement release said Andy Byrne would lead combined company; completion release says Steve Cox became CEO. | verified | Request board minutes, transition rationale and retention arrangements for founders/leaders. |
| Post-merger executive integration | Current about page lists combined C-suite after merger. | verified | Request integration org chart, role eliminations and retention/bonus plans. |
| Employee turnover | No turnover schedule public. | not_publicly_verifiable | Provide two-year voluntary/involuntary attrition by function/location and key-person risk. |
Public evidence identifies security/privacy disclosures, subprocessors, IP assets and People.ai patent litigation history. Complete litigation, regulatory, insurance, material-contract and acquired-liability schedules require counsel and company data.
partially verified confidence: medium
CourtListener identifies People.ai patent litigation history involving Clari, including dockets in D. Del., N.D. Cal. and the Federal Circuit. Current obligations and any pending status require counsel confirmation.
| case | court docket | filed or status | verification status | diligence request |
|---|---|---|---|---|
| People.ai, Inc. v. Clari Inc. | D. Del. 1:21-cv-00375 | Filed 2021-03-15; CourtListener shows terminated 2021-08-16. | verified from public docket metadata | Request pleadings, settlement/license terms and indemnities. |
| People.ai, Inc. v. Clari Inc. | N.D. Cal. 3:21-cv-06314 | Filed 2021-08-17; CourtListener shows terminated 2022-01-26. | verified from public docket metadata | Confirm final disposition and any continuing obligations. |
| people.ai, Inc. v. Clari Inc. | Federal Circuit 22-1364 | Filed 2022-01-14; search result did not show termination date in reviewed metadata. | inconclusive | Request counsel litigation schedule and appellate disposition. |
| Other litigation | Not identified in public-source review | No complete schedule available publicly. | not_publicly_verifiable | Request full litigation, arbitration, threatened claims and regulatory inquiry schedule. |
not publicly verifiable confidence: medium
No complete Clari-as-plaintiff litigation schedule was publicly verified. Public search was not exhaustive for state, arbitral, acquired-entity or sealed matters.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| Public plaintiff-side cases | Reviewed CourtListener search centered on People.ai v. Clari did not identify a complete Clari-as-plaintiff schedule. | not_publicly_verifiable | Request all matters initiated by Clari, including collections, IP, employment and customer disputes. |
| Acquired-entity claims | Wingman, Groove and Salesloft histories were not fully docket-searched in this standard report. | inconclusive | Request litigation schedules for acquired/merged entities and predecessor liabilities. |
not publicly verifiable confidence: low
As a software company, public environmental/safety disclosures are limited. Office footprint and remote/global work create standard employment, workplace safety and local compliance diligence needs.
partially verified confidence: medium
Public patent and trademark searches show Clari-assigned patent results and trademark applications, but official ownership, live/dead status, encumbrances, open-source and acquired-asset assignments require review.
| asset | jurisdiction source | public status | verification status | diligence request |
|---|---|---|---|---|
| Patent portfolio assigned to Clari Inc. | Google Patents | 31 results; examples include CRM voice update, meeting ranking, task-object forecasting and database synchronization patents/applications. | verified search result | Request complete patent schedule, assignments, prosecution history and maintenance fees. |
| CLARI / CLARI COPILOT / RUN REVENUE / REVENUE CONTEXT marks | USPTO.report mirror | 7 trademark applications listed for Clari Inc.; latest noted as REVENUE CONTEXT. | partially_verified | Verify in official USPTO TSDR and include acquired Wingman/Groove/Salesloft marks. |
| Acquired IP from Wingman, Groove and Salesloft | Company M&A releases | Strategic product acquisitions/merger disclosed; IP assignment terms not public. | not_publicly_verifiable | Request acquisition agreements, IP assignment schedules and open-source inventory. |
not publicly verifiable confidence: high
Insurance policy limits, carriers, retentions, exclusions and claims history are not public. Cyber/E&O coverage is particularly important given data and AI processing.
| item | public evidence | verification status | diligence request |
|---|---|---|---|
| Insurance coverage | No policy limits, carriers, exclusions or claims runs public. | not_publicly_verifiable | Provide D&O, E&O/cyber, EPLI, CGL, crime, fiduciary and workers compensation certificates plus claims runs. |
| Top customer contracts | Customer names and stories are public, but contract terms and SLAs are not. | not_publicly_verifiable | Provide top customer contracts, renewals, MFNs, termination rights, SLAs and change-of-control terms. |
| Supplier/AI/cloud contracts | Subprocessor list names vendors but not commercial terms. | not_publicly_verifiable | Provide vendor contracts, data-processing terms, minimum commitments, SLAs and exit rights. |
| M&A and merger contracts | Wingman, Groove and Salesloft transactions are public; agreements are not. | not_publicly_verifiable | Provide merger/acquisition agreements, reps/warranties, indemnities, earnouts and integration budgets. |
not publicly verifiable confidence: high
Material customer, vendor, AI/cloud, partner and M&A agreements are not public. Public pages identify contract categories but not terms.
partially verified confidence: medium
Public materials show privacy/GDPR posture, subprocessors, security certifications and status transparency. They do not disclose regulatory correspondence, complaints, investigations or enforcement matters.
| area | public evidence | verification status | risk or gap | diligence request |
|---|---|---|---|---|
| Security certifications | Security page lists independent audits, ISO/IEC 27001, SOC 2, ISO/IEC 27701 and GDPR. | partially_verified | Scope/exceptions not public. | Request current reports, bridge letters, pen tests and remediation log. |
| Privacy/GDPR | Privacy/GDPR pages describe CRM, email/calendar and contact data; DPA/SCC; controller/processor roles. | verified | Cross-border data, AI processing and customer-controller obligations. | Request DPA, subprocessors notice history, DSAR, DPIA and breach logs. |
| Operational incidents | Status page shows incidents involving Copilot/Google Meet and database query performance/Salesforce re-sync. | partially_verified | Customer impact, SLA credits and root cause not fully public. | Request incident history and customer-impact analysis. |
| Agency enforcement | No complete regulator search or enforcement schedule public in reviewed sources. | not_publicly_verifiable | Privacy/AI/security inquiries could be non-public. | Request all regulatory correspondence, complaints, audits and enforcement matters. |
| ID | Claim | Status | Sources |
|---|---|---|---|
| EC-001 | CB Insights lists Clari as a unicorn-row company valued at $2.60B. | verified high | SRC-001 |
| EC-002 | Clari raised a $20M Series B in 2014 led by Bain Capital Ventures. | verified medium | SRC-002 |
| EC-003 | Clari raised $35M in Series C financing in 2018 led by Tenaya Capital. | verified medium | SRC-003 |
| EC-004 | Clari raised a $60M Series D in 2019 led by Sapphire Ventures. | verified medium | SRC-004 |
| EC-005 | Clari raised $150M Series E at a $1.6B valuation in 2021. | verified high | SRC-005 |
| EC-006 | Clari announced a $225M Series F at more than $2.6B valuation in 2022. | verified high | SRC-006 |
| EC-007 | Clari and Salesloft announced and completed a private-company merger in 2025. | verified high | SRC-007SRC-008 |
| EC-008 | SEC EDGAR shows no public-company ticker or periodic-reporting profile for Clari Inc. in the reviewed CIK record. | partially verified medium | SRC-009 |
| EC-009 | Clari markets an AI revenue orchestration platform and product suite across forecast, data capture, inspection, engagement, buyer collaboration, conversation intelligence, cadences, RevDB and AI agents. | verified high | SRC-011SRC-012SRC-013SRC-014SRC-033SRC-034 |
| EC-010 | Clari pricing is sales-led and tailored rather than published as transparent per-seat prices. | partially verified medium | SRC-015 |
| EC-011 | Clari depends on integrations with CRM, engagement, collaboration, data and security systems. | verified high | SRC-016 |
| EC-012 | Public materials disclose named customers and aggregate customer-count anchors but not revenue by customer. | partially verified high | SRC-006SRC-007SRC-017 |
| EC-013 | Clari has public partner motions across consulting, integrations and PE/VC channels. | verified medium | SRC-018SRC-006 |
| EC-014 | Clari publicly claims third-party security audits and certifications including ISO/IEC 27001, SOC 2, ISO/IEC 27701 and GDPR compliance. | partially verified medium | SRC-019 |
| EC-015 | Clari's privacy/GDPR pages describe processing of personal, enterprise, CRM, email/calendar and contact data and roles as controller or processor. | verified high | SRC-020SRC-021 |
| EC-016 | Clari publishes subprocessor dependencies including AWS, Google Cloud, Microsoft Azure, Mixpanel, PubNub, Salesforce, Snowflake and Twilio. | verified high | SRC-021 |
| EC-017 | Clari status page indicates monitored components and public operational incidents affecting products such as Copilot and Salesforce sync. | partially verified medium | SRC-022 |
| EC-018 | Current public leadership after the Salesloft merger includes Steve Cox as CEO and a named C-suite across operations, revenue, marketing, finance, customer, technology, security, product, people and staff functions. | verified high | SRC-010SRC-008 |
| EC-019 | Clari acquired Wingman in 2022 to add conversation intelligence capabilities. | verified medium | SRC-023 |
| EC-020 | Clari announced acquisition of Groove in 2023 to add sales engagement and pipeline creation/conversion workflows. | verified medium | SRC-024 |
| EC-021 | Google Patents search returned 31 patent results assigned to Clari Inc. | verified medium | SRC-025 |
| EC-022 | A public trademark mirror lists Clari Inc. trademark applications including CLARI COPILOT, RUN REVENUE and CLARI. | partially verified medium | SRC-026 |
| EC-023 | CourtListener identifies People.ai patent litigation involving Clari in Delaware, Northern California and the Federal Circuit. | partially verified medium | SRC-027 |
| EC-024 | Clari competes with large and specialized revenue/sales AI platforms. | verified medium | SRC-028SRC-029SRC-030SRC-031SRC-032 |
| EC-025 | Consolidated financial statements, ARR, burn, runway, backlog, AR aging, debt and unit economics are not public in reviewed sources. | not publicly verifiable high | SRC-006SRC-007SRC-008SRC-009 |
| EC-026 | Customer concentration, churn, NRR, pipeline, ACV, discounting and sales productivity are not publicly verifiable. | not publicly verifiable high | SRC-015SRC-017SRC-007 |
| EC-027 | Post-merger Clari + Salesloft R&D positioning emphasizes Revenue AI, 10B interactions, 1T signals, doubled R&D investment, AI agents and Revenue Cadences. | verified medium | SRC-008SRC-033 |
| EC-028 | Clari appears active post-merger and not publicly listed, shut down or acquired by a third-party buyer in reviewed public evidence. | partially verified high | SRC-008SRC-009SRC-010SRC-022 |
This report is a public-evidence diligence snapshot, not investment advice. Important financial, legal, technical, and contractual facts remain non-public and should be verified directly with management and primary documents before any investment decision.