How $12M in Series B funding will accelerate our mission to give businesses real-time access to all of their metrics
We have some big and exciting news to share. Klipfolio has closed its Series B round of financing. We raised $12 million (Cdn) in a pre-emptive insider’s round led by OMERS Ventures and with the participation of all our existing investors. This is the third equity round for the company and it brings our total funding to $19.6 million.
OMERS Ventures is one of Canada's largest pension funds, with more than $65 billion in net assets. They understand all things SaaS (software as a service), and this is exemplified by their portfolio that includes enviable SaaS companies such as Shopify, Wattpad, Wave and Hootsuite. Like us, those companies are also focused on disrupting established markets with an affordable, self-serve, consumer-focused approach.
The Series A investors from our February 2015 round – BDC Ventures, Boldstart, CommonAngels (now Converge Venture Partners), Mistral Venture Partners, FundFire and Acadia Woods Partners – are all participating in this Series B round. We could not be more honoured to have their support and confidence. With the backing of our equity partners, and the Series A investment from early 2015, we have grown to over 7,000 customers worldwide, and increased our monthly recurring revenue by over 3.5X.
This is really good news for you as a customer or partner. We know you want us to make it easier to build dashboards. We know you want more pre-built content and connectors. We know you want improved performance and stability. We know you want us to make it easier to build dashboards for your clients. We know you’d like more guidance on what to track and how to build your dashboards, and we know you’d like a better mobile experience. This funding will be a big part of making all these things happen.
With just over 70 employees in Ottawa, Canada, as well as in Pune, India, we will continue to grow our team – adding developers and data scientists, expanding our quality and operations teams, hiring UX specialists and digital marketing staff, and building our support and success teams to be available to our customers throughout the world. There’s lots to do – but we’re all on board and excited to make it happen.
I send a heartfelt thank you to our investors and advisors for their continued confidence, to our customers and partners who continue to amaze us with their passion, support and feedback, and of course to the entire team here at Klipfolio (oh BTW, we’re hiring).
Now back to working on our mission: Helping small and mid-sized organizations get control of their business by giving them super-simple, real-time access to their metrics, everywhere they want to see them!