January 5, 2017
Klipfolio Raises $12 Million (Cdn) to Further Boost Growth
OTTAWA, Ontario, January 5, 2017 – Klipfolio, a provider of cloud business dashboards, today announced that it received $12 million (Cdn) in a Series B funding. This funding round was led by OMERS Ventures and included all the investors from Klipfolio’s 2015 Series A and 2014 seed rounds, bringing their total funding to date to $19.4 million.
Founded in 2001 as a bootstrapped provider of desktop dashboard widgets, Klipfolio has grown dramatically since re-launching as a cloud-based dashboard provider in 2011. Since receiving its first round of funding, the company’s customer base has doubled each year, now serving more than 7,000 customers globally. The company has a best-in-class net retention rate of rate of 100.3, and is delivering tens of thousands of real-time dashboards to customers.
“I’m proud of Klipfolio's rapid growth, but more importantly, what that growth indicates – that businesses are embracing real-time monitoring. Businesses who monitor their performance in real-time, are more in control than those who rely on monthly or quarterly reports,” says Allan Wille, Klipfolio’s President and CEO. “This new funding will allow us to further invest in the product, make it easier to build dashboards for our customers, provide new mobile experiences, and deliver hundreds of pre-built visualizations and dashboards."
In the past year, Klipfolio has achieved a number of important milestones:
- The number of full-time Klipfolio employees has grown to 68 and the company expanded the Ottawa office footprint 1860 sf to accommodate that growth.
- Klipfolio dashboards collectively refresh more than 2.6 billion times per year, reflecting their use in real time business operations.
- Klipfolio customers access more than half a million different data sources and run more than 25 billion formula executions annually.
- Klipfolio’s customers created more than 54,000 dashboards, with more than 36 million dashboard views in 2016.
- More than 276K Klips were created to help customers track their metrics.
“Klipfolio serves an important role in the market, offering businesses of all sizes access to real-time data—something that was previously readily available to just ‘the big guys’ with much larger resources,” said Damien Steel, OMERS Ventures. “Their ability to make critical data accessible in a user-friendly, affordable platform, empowers even the smallest of businesses to make smart, data-driven decisions.”
In addition to OMERS Ventures, the participating investors were: BDC Capital, Mistral Venture Partners, and leading early-stage investor groups from both Canada and the United States including Fundfire (Ottawa), BOLDstart Ventures (New York), Acadia Woods (New York), and Converge Venture Partners (Boston).