Startups operating in sales, marketing, and customer relationship management have raised $7.5 billion globally since the beginning of 2026, according to Crunchbase data, indicating continued spending on tools that help companies reach and retain customers despite tighter software budgets. But the picture does not mean the sector has returned to its previous peak levels; investors are funding fewer companies, directing a larger share of capital to companies associated with artificial intelligence.
The data covers 830 funding rounds through the date of publication. If the current pace continues, the sector could end the year at around $9.3 billion, roughly comparable to what it raised in 2023 and 2024, but below the $11.1 billion raised the previous year. The number of deals is also on track to decline for the fourth consecutive year. By comparison, sector funding exceeded $27 billion in 2022 and approached $41 billion in 2021.
Capital Is Going to Fewer Companies
The clearest shift is not investors’ disappearance from the sales and marketing sector, but the narrowing of their bets. As the number of deals falls, companies with clear growth or an AI-powered product are receiving large rounds, while access to funding is becoming more difficult for less differentiated companies.
AppsFlyer topped the list of the biggest beneficiaries after raising more than $1 billion in a Series E round in June with participation from Moloco, Google, Meta, and Unity. The marketing measurement company, which has added AI agents to its products to analyze marketing data and automate tasks, was valued at $2.7 billion.
In January, AI-powered customer service company Parloa raised $350 million in a Series D round led by General Catalyst. The company develops AI agents that handle customer conversations by phone and through other channels, while its valuation tripled to reach $3 billion.
Clay, which specializes in sales automation, announced on September 9 that it had raised $115 million in a Series D round at a valuation of $7.1 billion, more than double its $3.1 billion valuation when it raised $100 million in August 2025. Wellington led the round, with participation from Sequoia Capital, StepStone, a16z Perennial, the wealth management arm of Andreessen Horowitz, CapitalG, BoxGroup, and others. The company said its revenue grew fourfold during 2025 and that it expects to reach annual recurring revenue of $200 million in the current quarter and $240 million by the end of the fiscal year.
Funding Is Not Limited to Traditional Sales Tools
Large deals were spread across different business models. Restaurant financing and rewards platform inKind Capital announced that it had raised $450 million in February, without disclosing the lead investor or valuation. Whop, a marketplace for digital products, communities, and courses, received a $200 million strategic investment from Tether, valuing the New York-based company at $1.6 billion.
Property Finder, a Dubai-based real estate listings platform, also raised a $170 million investment in January led by Mubadala, with participation from another UAE sovereign wealth fund and existing investor BECO Capital. The company uses artificial intelligence in tools including home valuations and the improvement and prioritization of property listings, but it did not disclose its valuation.
Acquisitions Outpace Public Offerings
Crunchbase data shows that most investment exits in the sector take place through acquisitions, as larger companies buy specialized products to add to their platforms, while the number of public offerings has remained limited. Liftoff Mobile, which specializes in mobile advertising and app marketing, was the sector’s most prominent public offering during the year. The company began trading on Nasdaq in June after selling 19 million shares at $23 per share and raising $437 million, at a valuation of $3.83 billion.
The largest announced acquisition by value was Dutch payments company Adyen’s purchase of Berlin-based loyalty and promotions platform Talon.One for approximately $880 million in July. Talon.One had raised more than $120 million in venture capital funding.
Other deals included Zoom’s acquisition of sales intelligence company Common Room to add prospect data to its products, and HubSpot’s agreement to acquire Warmly, which helps companies identify and engage with their website visitors. Apollo.io also acquired Pocus, Pipedrive acquired Outfunnel, while Adobe acquired Indian marketing intelligence company Rilo in a deal that included the team and technology.
Why Does This Trend Matter?
The figures show that artificial intelligence has become a key criterion in directing capital within sales and marketing software, but it does not eliminate the underlying business problem: finding customers, increasing sales, and improving retention. Companies that can connect AI to clear operational outcomes appear better able to attract large rounds.
By contrast, funding data alone does not prove that all of these models are sustainable or that rising valuations reflect long-term performance. The dominance of acquisitions over public offerings also indicates that the public exit path remains much more difficult. The most important reading of the article is that the market has not stopped, but has become more selective: more money for the strongest companies and fewer deals for the rest of the sector.