The Worshipful Company of Clockmakers, a group of whose members have generously funded the building of the Newgate Street Clock, is an ancient City Livery Company, or guild.

The Company was founded by Royal Charter in 1631, under whose terms it and its members were granted a complete monopoly of clockmaking, watchmaking, case-making, sundial-making, mathematical instrument-making and engraving within the City of London and ten miles around. In return for this privilege, the Company was placed under an obligation to maintain the highest standards within its trade. Indeed its Master and Wardens were tasked with publicly smashing any substandard goods that they found.

As a consequence of the high standards and of the inventiveness of London clockmakers, the City led the world in the 'art and mystery' of clock and watchmaking from some 200 years, from c.1660 until c.1900. Though the trade dwindled in the latter years of the 19th century, the Clockmakers' Company still flourishes. Many of its members are active in the trade and it maintains a sparkling museum some 600 metres east of the Newgate Street Clock in London's Guildhall. The Newgate Street Clock now not only commemorates 375 years of the Clockmakers' contribution to the City's prosperity and fame, but was designed by one 'liveryman' of the Company and manufactured by another.