Klue raises a $79M Series B round from Tiger Global and Salesforce Ventures
It's the firm's second major round, following a Series A in September 2020.
On the heels of winning Canadian awards for tech culture (TIAs) and growth (Fast 50), local competitive enablement platform Klue has revealed that it’s raised a $79 million CAD Series B round led by Tiger Global with participation from Salesforce Ventures.
“When you don’t understand your competitive landscape, you can’t outperform it,” said Jason Smith, CEO and co-founder of Klue, in a statement. “Klue is building the system of record for compete. We want to give every department of every business a relevant, contextual, continuously updated lens into their competitors and market. We’ve started by enabling sales, working with product marketers to curate content into deal winning battlecards and competitive insights, and are expanding that value proposition to product and strategy teams.”
Fuel for continued growth
Klue is a platform that enables product marketers and enablement teams to harness intel from inside their company and across the web to deliver insights to stakeholders in their organization. Since Klue’s $19.7 million Series A in 2020, the company has seen 3x customer growth while serving over 300 enterprise clients and more than 100,000 users. In addition, the company was recently ranked 12th on Deloitte’s Fast 50 list with 2,418% revenue growth from 2017 to 2020.
Earlier this year, the company received $2 million from Western Economic Diversification Canada (now Pacific Innovation Canada) as part of the organization’s Business Scale-up and Productivity (BSP) program to grow emerging sectors. And now, the world’s most prolific investors have knocked on their door and invited themselves in.
“We're always looking for companies that are pushing innovation, and Klue's competitive enablement platform is transforming how businesses equip sales teams,” said David Kellenberger, Salesforce Ventures. “We’re looking forward to seeing Klue help customers create a cohesive competitive strategy to thrive in today’s business environment.”
Klue’s strategic clients include Adobe, 3M, Twilio and UiPath. The company says the new capital will accelerate product and machine learning development and fuel the company’s expansion into new verticals and markets.
More on this story to come…