Klue, the AI-powered competitive enablement platform, announced a $15 million Series A funding round led by Craft Ventures with participation from HWVP, existing investors OMERS Ventures, Rhino Ventures, and BDC Ventures, and several notable angel investors including Frederic Kerrest and Zach Coelius.
The investment, which brings the company’s total funding to $19 million, will accelerate product and machine learning development and be used to meet the growing demand for competitive enablement.
Klue helps companies collect and curate hard to find competitive intelligence, combining the best of what the web knows about your competition with the best of what your employees know into a single repository.
This combined source of trusted and actionable insights gives sales, marketing, product, strategy and executive teams a substantial edge over the competition.
“There is a huge greenfield opportunity in competitive enablement and Klue is defining the category,” said David Sacks, co-founder and general partner at Craft Ventures.
“Stagnant competitive intel decks and wikis are no longer sufficient. Businesses need to collect, curate and distribute competitive insights in real-time to stay ahead. This is why some of the world’s largest technology companies have turned to Klue.”
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“Every company in the world has two things in common – customers and competitors, yet there is no system of record on competitors,” said Jason Smith, CEO and co-founder of Klue.
“30% of enterprise deals are lost directly to a competitor. That stings. Klue is a confidence building weapon for sales and an efficiency engine for the teams who enable them.”
“In today’s dynamic competitive landscape, equipping sellers with the actionable competitive insights they need to compete confidently and win is a significant challenge. Cisco chose Klue to help us centralise competitive intelligence across our diverse global sales organization,” said Stefan Eller, Director, Worldwide Competitive Intelligence at Cisco.
“Klue enables us to bring together market data, internal research and expertise which provides sellers and leaders alike a robust hierarchical repository of competitive data that’s easy to search and distribute. And because it’s accessible seamlessly through the sales tools they already use, it’s extremely intuitive.”