Tiger Global and Salesforce Ventures back category leader as Adobe, 3M, Twilio, UiPath and others invest in technology to compete
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.”
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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.”
