Vancouver-based Klue, an artificial intelligence-powered competitive enablement platform, has secured $62 million in Series B financing. The round, which brings total funding to date to $81 million, was led by Tiger Global Management, with participation from Salesforce Ventures. Klue’s other investors include BDC Capital, Craft, HWVP, OMERS Ventures, Rhino Ventures and SK Ventures.
Category Leader Klue Raises $62M to Accelerate its Competitive Enablement Platform
VANCOUVER, BC, Dec. 1, 2021 /PRNewswire/ — Klue, the AI-powered competitive enablement platform, today announced a U.S. $62 million Series B investment led by Tiger Global with participation from Salesforce Ventures. This latest round brings the company’s total funding to U.S. $81 million since its founding in 2015. The new capital will accelerate product and machine learning development, and fuel the company’s expansion into new verticals and markets.
Companies are being disrupted faster and competition is increasing across every category. Yet today, many companies rely on a slow, inefficient, and inaccurate process of collecting and delivering market insights. Klue shapes how enterprise leaders think about competitive enablement, helping collect and curate intelligence from multiple sources (external and internal to the organization) and presenting organized, actionable insights that sales, product, strategy and marketing teams use to win business against their competition.
“When you don’t understand your competitive landscape, you can’t outperform it,” said Jason Smith, CEO and Co-founder of Klue. “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.”
“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 has seen 3x customer growth since its previous Series A round last year, serving over 300 enterprise clients and 100,000+ users, and was recently ranked 12th on Deloitte’s Fast 50 list with 2,418% revenue growth from 2017 to 2020. Most recently, Klue hosted the world’s first competitive enablement summit, bringing together thousands of competitive intelligence, product marketing, sales and revenue enablement leaders to learn from organizations such as Cisco, Workday, and Highspot.
“Klue gives my team the ability to crowdsource intelligence from a variety of internal and external sources to feed the needs of multiple teams within OneSpan,” said Rahim Kaba, VP of Product Marketing at OneSpan. “Anyone in our global sales organization can understand, in real-time, who our competitors are and how to win. Initial results from our implementation of Klue have demonstrated a clear uptick in sales productivity and our win rates.”
“Klue is at the forefront of changing the way business leaders approach building their strategies, as the demand for competitive intelligence is exploding,” said John Curtius, Partner at Tiger Global. “Most of today’s tools and processing doesn’t meet the immediate needs of enterprises, and Klue’s leadership and vision are disrupting the status quo, enabling business leaders to rapidly scale all teams across their business to dominate the competitive landscape.”
To find out about open positions at Klue, visit: https://klue.com/careers.
Klue is the Competitive Enablement platform for the modern enterprise. Using Klue, product marketers and enablement teams leverage intel from inside their company and across the web to deliver actionable insights to every stakeholder in their organization. Salespeople leverage relevant, digestible competitive insights that help them win business.
Klue has over 100,000 users and is a leader in both Competitive Intelligence and Sales Enablement on G2, receiving over 50 G2 badges in 2021 alone including Momentum Leader, Enterprise Leader, Easiest To Do Business With, as well as being listed in the Top 100 Fastest Growing Products, and the Top 50 Products for Marketers.