Klue launches with $4 million in funding to arm enterprise sales and channel teams with competitive intelligence
Vancouver-based Klue has raised $4 million that will bolster its services to help companies collect, curate and distribute competitive intelligence.
The funding was led by OMERS Ventures with participation from Vancouver Founder Fund, BDC Venture Capital, Pallasite Ventures, SK Ventures and angels including Jonathan Ehrlich (Foundation Capital), Daniel Debow (Helpful) and Ryan Holmes (Hootsuite).
Klue’s platform allows salespeople to collect information from across the web, compiling it all into battlecards and dashboards of competitors’ activity.
“Where this really hits home is with B2B enterprise sales teams,” said Jason Smith, Klue’s CEO and co-founder. “Thirty percent or more of deals are lost directly to a competitor. It stings to lose a deal that should have been won. Klue gives you a continuously updated lens into your competitors’ world so you can better position your company against your rivals, improve your sales strategies with prospects, and ultimately close more deals.”
Sarathy Naicker, CTO and co-founder of Klue, said machine learning can unearth key insights that can’t be done on a human scale. “By applying a machine learning intermediary to help scale down the volume of content, and giving enablement teams the tools to deliver, intel is less noisy, more succinct and ultimately more digestible for sales teams to run with,” he said in a statement.
LaBarge Weinstein acted as counsel for Klue with a team that included James Smith and Laura Venasse.
Read more about the funding here.