AI startup Klue secured $15 million in Series A Funding led by Craft Ventures

Klue, a Canada based Artificial Intelligence-supported competitive enablement platform, has now secured $15 million in the Series A funding round.

Klue is founded by Jason Smith in the year 2015. It is a competitive enablement for the modern enterprise. With this product, product marketers and enablement teams leverage curated Intel from inside their company and across the web to create insights delivered in the real-time scenario to the field.

The company has a couple of clients, which include the Red Hat, Cisco, Shopify, Tableau, and SurveyMonkey.

David Sacks, co-founder and general partner at Craft Ventures, said, "There is a huge greenfield opportunity in competitive enablement and Klue is defining the category. 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."

Stefan Eller, Director, Worldwide Competitive Intelligence at Cisco, said, "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 centralize competitive intelligence across our diverse global sales organization. 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. With over 30,000 Klue sessions in FY20, the program is off to a successful start."

The round, which brought the total funding to $19 million, was backed by the Craft Ventures with participation from HWVP.

Some of the existing investors Rhino Ventures, OMERS Ventures, BDC Ventures, and several angel investors which include the Frederic Kerrest (co-founder of Okta) and Zach Coelius (top Angelist syndicate).

The company as of now has plans to use the new funds to scale product and machine learning development.