ClickUp
The San Diego maker of the ClickUp work app, past $300M of recurring revenue but unpriced since its $4B round in 2021. It cut 22% of staff in May 2026 to bet on AI agents.
TNW, May 21, 2026; ClickUp careers page- Valuation
- $4B (2021) set by the October 2021 Series C. No priced round has been announced since.
- Raised
- $535M equity three priced rounds from 2020 to 2021, as stated on ClickUp's careers page.
- Revenue
- $300M+ ARR stated by ClickUp; it has set a public goal of $1B ARR.
- Watch
- 22% cut, May 2026 CEO Zeb Evans called it an AI restructuring, not a cost cut, with pay bands up to $1M.
- AI
- About 3,000 agents run inside the company, about three per employee; customers get Super Agents and an MCP server.
- Liquidity
- None reported no staff tender offer or secondary sale found; shares are not listed.
- Hiring
- 43 → 38 remote listings since Oct 10.
Per-seat subscriptions, plus paid AI.
ClickUp sells one workspace for tasks, docs, chat, goals and dashboards. A Free Forever plan feeds paid seats: Core at $9, Business at $17 and Max at $100 per user per month on yearly billing, with Enterprise priced by quote. AI use beyond the plan is sold as AI Super Credits at $10 per 10,000. It does not publish a revenue split.
ClickUp pricing page, checked Nov 3, 2026- 1One app replacing manyClickUp says it bundles 100+ products (tasks, docs, chat, whiteboards, time tracking) and that over 90% of customers used three or more of them back in 2021.clickup.com/llms.txt, Nov 3, 2026; ClickUp, Oct 2021
- 2A large free-to-paid funnelClickUp claims over 5 million teams and 85% of the Fortune 500 as users, and keeps a free plan with no card needed.clickup.com/llms.txt, checked Nov 3, 2026
- 3Buying AI talent and techBought Qatalog (London AI work hub and search) in November 2025 and Codegen (AI coding agents) in December 2025; Codegen's founder Jay Hack became Head of AI.Reworked, Dec 24, 2025
- Atlassian$48.3Blisted, Oct 30 close
- Notion$11.0Bprivate, Jan 26
- ClickUp$4.00BSeries C, Oct 27
Private values are the last reported round; they can be stale. Listed values are market value. Bars start at zero.
Every round, and what its terms give away.
ClickUp is private, so there is no share price. What its investors paid, and on what terms, is the closest thing to one.
- $4.00B
- latest valuation, Series C Oct 27
- $535M
- raised in all
- $300M
- ARR, as of Feb 5
- 1,300
- employees, as reported
Post-money valuations as reported. The line starts at zero. Rounds without a reported valuation are left off.
- Oct 27Series C$400M at $4.00BLed by Andreessen Horowitz and Tiger Global (co-leads). About 10% of the company, if all new sharesLightspeed and Meritech joined. Form D shows $398.9M sold to 15 investors.ClickUp, Oct 27, 2021; SEC Form D, Nov 2, 2021
- Dec 15Series B$100M at $1.00BLed by Georgian. About 10% of the company, if all new sharesCraft Ventures joined. The $1B valuation was first reported by Bloomberg.TechCrunch, Dec 15, 2020
- Jun 1Series A$35MLed by Craft VenturesFirst outside funding round, announced June 2020 (exact day not in source). Valuation not disclosed.TechCrunch, Dec 15, 2020
- Down round or flat round?No later priced round has been announced. The Series C at $4B was 4x the $1B Series B ten months earlier.ClickUp, Oct 2021; TechCrunch, Dec 2020Clear
- How much of the company the last round soldAbout 10%: $400M at $4B. Reports do not say whether $4B is pre or post money.ClickUp, Oct 27, 2021Clear
- Time since the last raiseAbout four years since October 2021, a long gap. The $4B mark predates the 2022 software reset, so today's value of staff equity may differ. No Form D after 2021 under ClickUp's legal name, Mango Technologies.SEC EDGAR filing list, checked Nov 3, 2026Flag
- Structured or unusual termsNone reported. The 2021 Form D lists equity under Rule 506(b) with no commissions, but share terms are not public.SEC Form D, Mango Technologies, Nov 2, 2021Open
- Who led the last roundNew outside co-leads, Andreessen Horowitz and Tiger Global, with Lightspeed and Meritech.ClickUp, Oct 27, 2021Clear
- Tender offers or secondary sales for staffNone reported. Searched company pages and press; no tender date or price found.Searched Nov 3, 2026Open
- Layoffs in the last 12 monthsYes. About 22% of staff cut in May 2026, from about 1,300 employees. Earlier cuts: 7% in May 2022 and 10% in July 2023.Entrepreneur, May 26, 2026; SiliconANGLE, Jul 2023Flag
Clear: checked, nothing found. Flag: found, with the source. Open: could not be checked.
No filing reported
What the record says, and what we think it means.
The fact is the source's. The read, in italics, is ours.
- 01Watch
A 22% cut, framed as an AI bet.
TNW, May 21, 2026; Entrepreneur, May 26, 2026On May 21, 2026 CEO Zeb Evans posted that ClickUp was cutting 22% of staff. He wrote it "wasn't about cutting costs" and that savings flow to those who stay.
Expect fewer people doing more work with agents. The roles that remain may pay more, but expectations will be high.
- 02Neutral
Pay bands up to $1M.
Entrepreneur, May 26, 2026Staff who create outsized impact using AI can be paid outside traditional bands, up to $1 million a year in cash.
Upside for a few, likely tied to hard-to-measure output. Ask how the new bands apply to your role before you sign.
- 03Watch
Remote varies by role; sales is hybrid.
ClickUp Ashby job board API, checked Nov 3, 2026The careers page says the work model varies by role and location. Of 48 live postings on Nov 3, 2026, 38 are tagged remote and 10 hybrid, with 2 to 3 office days in Dublin, London or San Diego.
Engineering, product and success roles are mostly remote. Sales and solutions roles near a hub usually need office days.
- 04Neutral
Hybrid since 2021, never a hard mandate found.
ClickUp blog, Oct 17, 2021; searched Nov 3, 2026In October 2021 ClickUp said about 60% of staff worked remotely and San Diego staff were asked in on Tuesdays and Thursdays. No company-wide return-to-office order was found since.
The pattern looks stable: hubs for local staff, remote for others. Check each posting: the work model is set per role.
- 05Watch
Third round of cuts in four years.
SiliconANGLE, Jul 4, 2023; TechCrunch, Jul 4, 2023About 7% in May 2022 and 10% (about 90 people) in July 2023, partly to move support roles to lower-cost regions. Evans then called it making ClickUp IPO-ready.
Support and service roles have been cut most often. Weigh that if you are applying for one.
- 06Neutral
Public-company hires in finance.
ClickUp release via SalesTechStar, Feb 5, 2026In February 2026 ClickUp named six leaders, including an SVP of Accounting who oversaw Amplitude's IPO and a former KPMG partner as audit committee chair.
An audit committee chair and IPO-tested accounting lead are typical IPO groundwork. Nothing has been filed.
- 07Neutral
IPO talk, no filing.
Reworked, Dec 24, 2025Reworked reports Evans has signaled an IPO within two years. No public filing has been reported.
Talk of an IPO has run since 2020. Until a filing, there is no date when staff shares can be sold.
- 08Good
Two AI buys in two months.
Reworked, Dec 24, 2025Qatalog (enterprise search, about $26M raised) in November 2025 and Codegen (AI coding, last valued at $60M) in December 2025. Terms not disclosed.
Small, cheap deals that brought in AI teams. They fed the Super Agents product.
- 09Watch
The $4B price is four years old.
ClickUp, Oct 2021; Notion, Jan 2026ClickUp's equity has not been priced in a public round since October 2021. Notion, a close rival, ran a tender at $11B in January 2026.
Without a new round, the value of new equity grants is hard to judge. Ask for the latest 409A price and preferred stack.
Product is paid 18% over market. Engineering, 12% over.
We save every company's roles, pay by team and level, AI share and churn every day, so each month this page can say more. Sparklines use their own scale.
Can AI agents do business with ClickUp?
We checked the agent payment programs, developer docs and site rules an AI assistant would meet.
Open to agents. Hosted MCP server on all plans, llms.txt on site and docs, robots.txt open to AI crawlers.
Still Remote read- YesAn MCP server agents can callHosted at mcp.clickup.com and available on all plans. Daily call limits run from 100 on Free to 25,000 on Enterprise Plus, unless the Everything AI add-on is bought.ClickUp developer docs, updated Oct 7, 2026
- YesIts own AI agentsSuper Agents can be @mentioned, assigned tasks and given schedules; ClickUp says they run workflows 24/7. Ambient Agents act in the background.ClickUp changelog (undated), checked Nov 3, 2026
- YesSite and docs AI tools can readclickup.com/llms.txt is about 8,800 characters. The developer docs have one of about 39,000 characters. The help center returns 404.checked Nov 3, 2026
- YesLets AI crawlers read its siterobots.txt allows all bots except a short list of paths and tracking parameters. It names no AI bots, so GPTBot and ClaudeBot fall under the general rule.checked Nov 3, 2026
- YesA public API for buildersAPI v2 and v3 with personal tokens or OAuth, documented in a machine-readable index.developer.clickup.com/llms.txt, checked Nov 3, 2026
Where ClickUp puts AI to work.
- 1Three agents per employeeAbout 3,000 internal agents across teams, each with a named human owner on an agent org chart and a cost dashboard. Agents cannot delete data or merge code to production.Fortune, May 18, 2026
- 2The CEO's agent screens messagesFortune reports staff must go through an agent before contacting Evans directly. Monthly awards since 2022 now favor people using AI for large results.Fortune, May 18, 2026
- 3Fewer people, bigger AI rolesThe May 2026 cut came three days after the Fortune profile. Evans described the new shape as a "100x org" of people who build or manage AI systems.TNW, May 21, 2026
Fewer listings than on Sep 18, most of them in engineering.
What has to be true for $4 billion to hold?
The starting revenue is ClickUp's own reported figure. A way to think, not a forecast, and not investment advice.
At 13x, ClickUp needs $308 million of revenue to be worth $4 billion. Your world gets there with $588 million, so the next round likely prices above the last.
$100,000 of equity valued at the $4.00B Series C price would be worth about $191,100 on paper in this world, before dilution from new rounds, taxes and vesting. Private shares only turn into cash at a sale, an IPO or a tender offer.
A way to think, not a forecast, and not investment advice.
ClickUp, Oct 2021; ClickUp, Feb 2026The signals, and which way they push.
- TailwindRevenue past $300M.
ClickUp says ARR passed $300M and claims 400% growth in AI sales in 2025. It has set a $1B ARR goal.
- TailwindAgents are its main bet.
Super Agents, Brain MAX, the Codegen and Qatalog teams and an open MCP server all push ClickUp toward agent work.
- HeadwindFewer seats to sell, and fewer staff.
ClickUp prices per user. If AI lets customers run with fewer people, per-seat revenue shrinks; ClickUp itself just cut 22%.
- HeadwindStrong rivals on every side.
Notion raised its mark to $11B in January 2026; listed rivals Asana, monday.com and Atlassian sell similar tools.
Where ClickUp ends up, if we had to bet.
Our calls, not facts. Each one is tied to something that already happened, so you can judge the reasoning.
- 1
ClickUp lists on a US exchange by 2031.
Coin flip 50%IPOIt hired an IPO-tested accounting lead and an audit chair, and the CEO has signaled a listing. But it has talked about an IPO since 2020 and has not filed.
ClickUp release Feb 2026; Reworked, Dec 2025 - 2
ClickUp is bought by a larger software or private equity firm by 2031.
Long shot 16%M&AIt has raised $535M and has growth goals of its own. The founder still runs the company and talks of going public, not selling.
Reworked, Dec 24, 2025 - 3
ClickUp reaches $1B of ARR by 2031.
Long shot 16%RevenueIt stated the goal at about $300M ARR. It has not published a growth rate, and tripling in five years at this size is hard.
ClickUp release Feb 5, 2026 - 4
Most ClickUp revenue growth comes from AI credits and agent plans, not plain seats.
Likely 72%AIIt already sells AI Super Credits and an agent product, and claims 400% AI sales growth in 2025. Seat growth is under pressure as teams shrink.
ClickUp pricing page; clickup.com/llms.txt - 5
ClickUp is still a top-three all-in-one work app by 2031.
Coin flip 50%CompetitionIt claims 5 million teams and a broad product. Notion, monday.com and Atlassian are larger or better funded, and AI makes switching easier.
clickup.com/llms.txt; Notion, Jan 2026
Read by the Still Remote research agent on November 3, 2026 from the sources linked on this page. Facts and scenarios only, not investment advice.