|By Business Wire
|February 14, 2014 07:00 AM EST
Klipfolio, a global leader in cloud-based Web and mobile dashboard
solutions, today announced it has secured $1.7-million (CDN) in funding,
led by the BDC Venture Capital IT Fund, Mistral Venture Partners and
including several 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).
Klipfolio provides a flexible and powerful BI solution that allows business users to unite cloud-based and on-premise data sources to create meaningful dashboards without the cost or complexity of traditional business intelligence tools. (Photo: Business Wire)
The Ottawa-based startup has recently grabbed the attention of industry
watchers and many of the world's most recognized brands for its
real-time business dashboard, a flexible and powerful solution that
allows business users to unite cloud-based and on-premise data sources
to create meaningful dashboards without the cost or complexity of
traditional business intelligence tools. Klipfolio has experienced
dramatic year-over-year organic revenue growth and has a growing
customer list that includes Fortune 500 companies.
The $1.7-million in funding will allow Klipfolio to continue to grow its
customer base in a global business intelligence (BI) software market
that is projected to reach $17.1 (US) billion by 2016, according to
market research firm, Gartner.*
Klipfolio has a diverse customer base that includes leaders in
healthcare, financial services, consumer packaged goods, non-profit,
manufacturing and government. With more than 1,100 customers in 2013,
Klipfolio has experienced rapid customer growth since the organization
launched a cloud-based dashboard solution in 2011.
“Now that cloud-based computing has been broadly accepted, I expect to
see a surge in the uptake of BI in 2014. By focusing on a combination of
user self-service, mobile, and cloud-based BI, Klipfolio is well
positioned to get significant traction in a market where there is a
strong potential growth in BI adoption,” said Mike Ferguson, Managing
Director, leading IT market analyst and consulting company, Intelligent
“The decision-making landscape is changing. Line of business users are
desperate to consolidate and visualize the overwhelming number of
metrics they need on a daily basis," said Allan Wille, Chief Executive
Officer, Klipfolio. "The future is all about making business
intelligence software easier, friendlier, smarter, and more
cost-effective – and with today's announcement, Klipfolio is making this
Popular online automotive review site Edmunds.com is a long-time
Klipfolio customer. Based in Santa Monica, CA with more than 550
employees, Edmunds.com was recently ranked by the Maritz Research’s 2013
Online Customer Review Study as one of the most trusted online review
sites, ranking 4th overall.
With 200 million visitors to its site annually, Edmunds.com needed a
solution that gave it real-time insights into its business. “How you
present data really matters. It matters in the sense of the story you
want to tell as well as how digestible and actionable it is for the end
user. We chose Klipfolio because of how easy it was to integrate with
our back-end data, and the ease of learning the UI in terms of
transforming and getting value out of that data,” said George K. Kang,
Vice President, Inside Sales & Dealer Development, Edmunds.com.
“Ottawa has long been recognized as a global centre of business
intelligence software innovation. Klipfolio has grown out of that long
tradition of success, creating a solution that truly changes the game
for organizations looking to effectively harness their business data to
help make better decisions,” said Ron Warburton, Managing Partner, BDC
Venture Capital IT Fund. “BDC saw in Klipfolio an organization ready to
take that critical next step in its growth, building on a solid
foundation of proven technology and strong global customer
“Given Ottawa’s dominance in the BI space, we weren’t surprised to find
a fast-growing company based here that was focused on the fastest
growing segment within BI – Data Visualization. Consistently ranked in
the top 5 in their space by industry research studies, and generating
sales to some of the world’s most respected brands, Klipfolio is leading
the next wave of BI services that puts the power of Big Data in the
hands of the user,” said Code Cubitt, Managing Director at Mistral
Venture Partners. “We are excited to partner with this passionate team
of business intelligence innovators to help take Klipfolio to the next
level as a global business intelligence leader.”
According to the Klipfolio management team, Klipfolio plans to use the
funding to expand its operational team and global reach.
*Gartner Press Release, Gartner Says Worldwide Business Intelligence
Software Revenue to Grow 7 Percent in 2013, Feb. 19, 2013 http://www.gartner.com/newsroom/id/2340216
Trusted and relied upon by 1,100 organizations around the world
including leading global brands, Klipfolio is a global leader in
cloud-based Web and mobile dashboard solutions. Klipfolio provides an
online dashboard platform for building powerful real-time business
dashboards. Unlike traditional or legacy BI solutions, the Klipfolio
solution is being selected by customers as a cost-effective, flexible
solution that allows the seamless integration of diverse sources of data
into a dynamic dashboard to monitor business performance. With customers
in healthcare, financial services, consumer packaged goods, government,
non-profit and marketing, the Klipfolio cloud-based solution is designed
to help business decision-makers in medium to large-sized enterprises
make better decisions. Find out more at http://www.klipfolio.com
or follow us twitter.com/klipfolio
Photos/Multimedia Gallery Available: http://www.businesswire.com/multimedia/home/20140214005162/en/
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