Venture capital firm Foresight Group has led the $5m (£4m) Series A funding round for the London-based AI sales software startup Kluster.
The company’s software is used by sales teams to monitor sales data and trends. They can also use it to create sales plans detailing hiring numbers, call numbers and who to contact.
Following the round, the company plans to expand further in America, developing its software along with hiring executives and staff for its go-to-market team.
“It has never been more important to plan and execute revenue strategy than it is today,” said CEO of Kluster Dan Thompson.
“With the recent VC bubble, the metrics that mattered went from growth, burn and margins to growth, growth and growth.”
After managing a sales team, founder Rory Brown went to his university friend Thompson, a theoretical physics graduate with experience in forecasting models, and together they formed Kluster.
Jack Eadie, managing director at Foresight, said “They have a strong product-market fit, and I’m relieved to see a platform that enables companies to forecast revenue more accurately.”
The Series A also attracted investment from SuperSeed and angels such as Cognism CEO James Isilay.
It follows a $1m round back in April 2020 led by SuperSeed and Newable Ventures.
Foresight Group this month closed £20m for its North East SME fund.