Getting Klued In: Announcing our Funding and Story
We are pleased to announce that Klue has raised $4 million in capital. Our funding was led by OMERS Ventures with participation from Vancouver Founder Fund, BDC Venture Capital, Pallasite Ventures, SK Ventures and many fabulously supportive angels including Jonathan Ehrlich (Foundation Capital), Daniel Debow (Helpful) and Ryan Holmes (Hootsuite). The investment allows Klue to run hard at realizing our vision.
Today, Klue is tackling an underserved problem that every company faces: collecting, curating and distributing competitive intelligence. There is an explosion of information about companies scattered around the web and streams of content being shared by coworkers inside Slack, Salesforce, shared drives and email. We are arming salespeople with the relevant pieces of that deluge to help them win business.
Klue Intelligence Cycle
The platform combines information shared by co-workers with bot collected intel from across the web into battlecards and living dashboards of competitor activity. We solve two problems enterprises face in the battle for sales. First, Klue helps product marketers and enablement teams create and keep competitive content up to date. Second, Klue helps salespeople find and leverage that content inside applications they use every day including Salesforce, Slack, Chrome (browser extension), and email.
Klue was born out of a problem my cofounder Sarathy Naicker and I encountered in our previous roles. We wanted a curated lens into competitor activity. We started our journey by rolling up a company’s online footprint and presenting it in an aggregated, curated view.
We soon realized that no matter how much data we collected, you and your co-workers will continue to search for and share intel you find on your own. So we built a chrome extension to enable explicit sharing with Klue, an email ingester to convert shared emails, and are now working on fully integrated Slack and Chatter connectors that automatically add relevant posts into a combined internal data + external web data view.
Curation was quickly required. Taking advantage of the latest machine learning advances and NLP, we cut down millions of noisy alerts into a manageable handful, then gave our clients a Trello-like UI to swipe, organize and contextualize that intel.
We then built out a system of cards, lanes, boards and battlecards for competitors, companies or topics our clients wanted to track. Product marketing and enablement teams could create and update their own custom cards, or leverage a growing set of automated cards. Salespeople could consume that intel inside Salesforce, Chrome (extension), mobile app, email, Slack (soon) or Klue. Want the latest pricing for SpaceX rockets? There’s a card for that and you don’t have to leave the tool you are in to get it.
Keeping up with the velocity of information inside and outside your organization is a challenge. Converting it all into digestible, relevant content and making it easy for your co-workers to find and leverage is our vision. Think of Klue as a collection, curation and distribution system for any content that requires perpetual updating.
Competitive intelligence is a problem every company faces: tracking new features, marketing campaigns, pricing and discounts, messaging changes, clients won and lost, changes across webpages. New competitors are entering the market; from major players making surprise moves to startups being funded. The martech space alone has grown 10x from 350 companies in 2012 to over 3500 now. Disruption cycles are faster, and customers are increasingly educated about alternatives. 30% of B2B deals are lost directly to another competitor offering a similar solution. Being outmanoeuvred stings.
Mid-to-large companies like Adaptive Insights, Dell EMC, Hootsuite, Sage, Paychex, K2, Absolute Software, and DXC (spinout of HP) are using Klue to increase win rates, avoid surprises and stay ahead. If you have a quarterback inside your organization that is looking for CI superpowers, and a sales team eager for fresh intel, take a look at what we’ve got.
I want to close by acknowledging my fellow startup founders and early stage co’s who want a scaled down, more automated solution and a lower price point. Stay tuned, we’re refining and improving our curation algorithms to offer you just that in the future.
CEO / Cofounder
Contact us today to get your team started on Klue.
Originally published at klue.com on September 27, 2017.