February 25, 2015
Klipfolio Adds $6.2 Million in Funding to Further Boost Growth
OTTAWA, Ontario, February 25 2015 – Klipfolio, a high growth cloud company bringing powerful, easy-to-use and affordable real-time dashboards to the mid market, today announced a $6.2 million series A round led by OMERS Ventures and including all the investors from Klipfolio’s 2014 seed round.
Klipfolio surpassed several major milestones in 2014, including more than doubling its staff and customer base. The company has a best-in-class customer satisfaction rate, a 99.7 percent retention rate and is delivering tens of thousands of real-time dashboards to customers.
“We are proud of the strides we’ve made this year, especially around key metrics like customer satisfaction, retention and base growth,” said Allan Wille, Klipfolio’s CEO. “The new funding will accelerate our growth rate and enable us to invest in product enhancements that will make it fast, easy and affordable for organizations to continuously monitor the health and performance of their businesses.”
Damien Steel, a director at OMERS Ventures, is joining the board. “Klipfolio provides a user-friendly product with enormous power and value, enabling customers to continuously monitor key metrics essential to their businesses,” said Steel. “They are domain experts with significant business intelligence expertise and differentiation in a huge market; exactly the type of team we look to partner with through our investments.”
“Klipfolio’s vision is very compelling,” said Ron Warburton, Managing Partner, IT Venture Fund, BDC Capital. “Real time dashboards address a wide open market and offer companies the ability to move beyond the reflective quarterly view of their business metrics.”
- Klipfolio's customer base more than doubled in 2014.
- The number of full-time Klipfolio employees more than doubled and the company is expanding the Ottawa office to accommodate them.
- Klipfolio dashboards collectively refresh 1.5 million times per day on average, reflecting their use in real time business operations.
- Klipfolio customers access more than half a million different data sources and run more than 3 billion formula executions annually.
- Klipfolio's customers created more than 150,000 dashboards in 2014. Because they receive an unlimited number of dashboards for one low price, they are free to create any new dashboards that they need, whereas many competitors limit access.
The Klipfolio board now includes: Damien Steel; Allan Wille; Michael Weider, the former CEO of Watchfire and Blaze; and Ron Warburton from the BDC Venture Capital IT Fund. In addition to OMERS, 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 CommonAngels Ventures (Boston).
About OMERS Ventures
OMERS Ventures (Twitter:@OMERSVentures) is the venture capital investment arm of OMERS, one of Canada's largest pension funds with $65 billion in net assets. As both an institutional angel investor and a later-stage investor, OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy. www.omersventures.com
About BDC Capital
From venture capital to equity to growth and transition capital, our team of over 100 experienced, local professionals partner with entrepreneurs to identify and meet their needs on flexible terms. Some of the sectors in which we specialize include IT, industrial/clean/energy technology, and healthcare. For more information, please visit www.bdccapital.ca or follow us on Twitter at @BDC_Capital.