Ottawa startup Klipfolio has raised $12 million in series B funding for its brand of cloud business dashboards.
The round was led by Omers Ventures with participation from 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).
“There is a massive number of small- and mid-sized businesses that need help controlling and understanding the metrics that matter most to them,” founder Allan Wille told the Ottawa Business Journal’s Adam Feibel. “As we move up, that whole side of the infrastructure is a part that we really need to make sure scales properly.”
“Hiring will be a big thing for us in 2017 … so that’s something that’s pretty exciting, and something we definitely want to make sure Ottawa knows about,” Willie added to OBJ.
Klipfolio has now raised $19.4 million in total funding. The new cash will go towards providing new mobile experiences and hundreds of pre-built visualizations and dashboards.
Since early 2015, the startup grew to over 7,000 customers worldwide and increased monthly recurring revenue by over three times.
Founded in 2001 as a bootstrapped provider of desktop dashboard widgets, Klipfolio eventually relaunched as a provider of cloud-based dashboards which business users can build and share in real-time. Led by Allan Wille, President and CEO, the company currently has more than 7,000 customers including marketing agencies, financial services, healthcare, consumer goods and not-for-profits organizations.
In a blog post by Allan Wille, the team at Klipfolio praised their new investors, signalling good time to come for clients:
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.
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.
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!
And good news for those interested in this growing startup: Wille added that Klipfolio is hiring. Klipfolio currently employs 68 full-time workers and will be looking to add 40 to 45 new employees this year.