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Growing the Competitive Enablement Category: Klue’s $62M Series B Funding

When we started Klue six years ago, we envisioned a future where businesses are ready and armed to go toe-to-toe against their competitors, instead of getting blindsided. In this future, product marketers and competitive strategists are the superheroes, enabling their revenue teams with the tools and competitive strategies they need to crush their competitors.

In this future, businesses win; improving competitive win-rates, shortening sales cycles, and increasing deal sizes. 

This vision is at the core of what motivated us to conceptualize competitive enablement, and build Klue. We’ve been humbled, and frankly, excited to see hundreds of thousands of users join our vision and use our platform in innovative ways to compete, and win.

Today I’m excited to share that we’ve raised $62M in Series B financing, led by Tiger Global and including Salesforce Ventures. This funding allows us to further our goal of product innovation and support the massive growth in competitive enablement.

Klue has tripled our customer base since our Series A round in 2020. Companies like Cisco, Dell, Juniper Networks, Samsung, and Workday are changing the way that enterprise businesses compete.

Check out TechCrunch, Betakit, and the Globe & Mail’s coverage on our announcement.

Here’s why we’re doubling down on competitive enablement:

Competition isn’t slowing down

Competition is increasing in every vertical. The Martech industry alone has jumped from 300 to 8,000+ companies in just seven years. Jarrod Greene, VP of Product Marketing at Highspot, noted that they’re now battling with 1,200 competitors at Klue’s Competitive Enablement Summit. 

Disruption is happening quicker as well-funded competitors move faster. Data sources are exploding. And buyers are more educated than ever before.

That’s why a holistic workflow that collects, curates, and enables teams with real-time competitive insights is critical for businesses to keep pace in this fast, ever-growing competitive landscape.

Investing in machine-learning to not only automate intel collection, but automate insight generation.

Product innovation has driven our success so far. Currently, product marketers are spending 25% of their time collecting competitive intel, and our unique Machine-Learning algorithm helps them do so more effectively by eliminating 87% of this collection noise. 

But that’s not enough.

Because teams need to go beyond the traditional competitive intelligence requirements of intel collection. Intel doesn’t matter unless it meets the needs of your end-users. That’s why we’re focused on making insight generation easier and faster.

Klue’s mission is for our product to enable revenue teams with the insights they need to win, when they need it, and wherever they live. We’re going to continue improving our suggest AI to get to the ‘so what?’ of all of this intel flooding your inbox, and help product marketers distribute these insights into the hands of your end-users quickly.

“Competitive intelligence is critically important considering the modern sales landscape. Today’s customers are increasingly researching before contacting a sales person. The Internet is a big place, our resources aren’t infinite, Klue is my scaling agent,” says Chris Agnoli, Competitive Enablement Lead at Juniper Networks.

Empowering product marketers to be the superheroes that are driving competitive wins in the business

Product marketers that enable revenue teams with deal-closing competitive strategies are secret weapons that increase the bottom-line for the business. And we want Klue to be your secret weapon’s secret weapon.

Nearly every Klue customer has increased their revenue. Clients are tripling win rates against their largest competitors and uncovering truths about companies they didn’t think were even competitors. Product marketers are covering 14x more competitors. Customers — who started delivering competitive insights to 100 users — have managed to expand to over 15,000, and sellers are turning to their content in the heat of competitive deals.

“Enabling our revenue teams to position our products in any competitive environment is critical to our success,” said Gary Cottrell, VP of Product Growth at Xactly.  “Klue allows us to gather and centralize internal and external market insights, and quickly distribute it across the organization in an intuitive and powerful way.”

Sales reps are saying that the competitive insights they now regularly receive from Klue “give me an extra edge to combat objections in the deal cycle”, that it “allows us to be more knowledgeable against our current competitors”, and that “it’s very easy to use intel as ammo.”

We want to empower product marketers from being the secret weapon helping close deals, to becoming recognized as the go-to person that revenue teams and business leaders look to in order to beat the competition.

It’s all thanks to you!

Each and every one of our customers has been instrumental in our success and growth. Through presentations, word-of-mouth, referrals, reviews, feedback and support – you’ve elevated our product and continue to level us up. So, here’s to you. 

Finally, we couldn’t be more proud of every single member of our Klue Crew. You’ve been the innovators and backbone that has pushed forward our vision for competitive enablement, all while establishing a culture at Klue that is recognized as world-class.

We’re just getting started! P.S. Come find out more about joining the Klue team here, and check out what all the fuss is about by signing up for a demo with one of our competitive enablement experts.

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