Klaxoon Raises $50 Million in Series B Funding to Further Expand The Meeting Revolution Worldwide
Klaxoon, the global champion of teamwork solutions, today announced it has secured $50 million in Series B Funding in a round led by Idinvest Partners with participation from additional early round investors including BPI, Sofiouest, Arkea and White Star Capital Fund. This investment will allow Klaxoon to boost its R&D development of its ever increasingly sophisticated collaboration tools and further extend its international presence.
The Meeting Revolution
Klaxoon is revolutionizing the way organizations harness the power of their teams with solutions designed to address one of the most daunting challenges of teamwork – make meetings efficient. Launched in 2015 after two years of intensive development, Klaxoon has powered a meeting revolution with a sophisticated SaaS platform of advanced tools that improve any type of meeting. From increasing engagement, facilitating better and faster decisions, improving information retention, encouraging creativity and tracking actionable outcomes, Klaxoon is addressing an unmet and ever-increasing need.
The Meeting Revolution with Klaxoon
The average U.S. executive has 2-3 meetings a day and will spend 16 years of his life in a meeting. While the need for collaboration and time spent in meetings has skyrocketed with modern and mobile work practices, the digital tools to serve businesses have largely been focused until now on three main pillars:
- Internal Communications – Facilitating the global sharing of information within a whole company, e.g. Facebook @Workplace, Microsoft Yammer, LumApps, etc.
- Business Tools – Bringing structured processes and tools to conduct business, e.g. Salesforce, Dropbox, etc.
- Instant Messaging – Fostering communication and ongoing information exchanges, e.g. Slack, HipChat, WhatsApp, etc.
Klaxoon is the first player to come up with solutions catering to a fourth pillar – efficient work collaboration in its natural environment – the meeting. Meeting formats have barely evolved since the 1980s and the launch of presentation software. Klaxoon provides the first real alternative to change the way meetings are conducted and its impact can be huge!
Our research and platform’s success show that holding efficient meetings is the secret of successful teams. While new ways of communicating at work have disrupted established practices, improving the structure and focus of meetings has never been revamped or addressed, says Matthieu Beucher, Klaxoon’s CEO. We’ve found that organizations need a solution that would allow their employees to easily get in sync with their team, no matter if they are working remote or in different time zones. This is where Klaxoon comes in. Our solutions help optimize meeting duration and boost collective intelligence, making it easier for everyone to contribute and bring fun to collaborative work. Now thanks to this significant Series B round, we will be able to help even more companies around the world improve their meetings and collaborations.
A Future Collaborating Giant
In just three years, Klaxoon has demonstrated impressive global growth and today has more than a million active users in more than 120 counties. With an equal split of small businesses and major players such Toyota, Dior, L’Oréal, Johnson & Johnson, Air France, Accenture and Marriot using Klaxoon, it has established itself as the dominating global player. In addition to funding R&D initiatives, Klaxoon plans to use the capital to expand its business operations in North America and Europe. Recently ranked one of the top five organizations in France by the “Great Place to Work,” Klaxoon plans to add a further 100 people to its team, bringing its total to 250. “Klaxoon has the DNA of a future global champion. We are excited to come onboard as we have total confidence in the vision of its founder and the talents within its teams,” said Benoit Grossman, Managing Director of Idinvest Partners. “I am convinced that the appeal of their innovative collaborative solutions will keep growing on a global scale”. “We have trusted Klaxoon since its inception, and their success on home turf and their success so far has been quite remarkable. We see them poised for accelerated growth in the international markets, in the US in particular”, quoted Patrice Hutin, Board Member and COO of Sofiouest. Bpifrance contributes to financing the company’s innovation as well as its international development. “We are convinced of the great potential of Klaxoon and its capacity to deeply transform the way we work in teams. The arrival of the Digital Ambition Fund to its capital must give Klaxoon the means to assert its leadership both in France and internationally” adds Véronique Jacq, director of digital investment at Bpirance. “Klaxoon has proven in the past 24 months its great capacity to foster a true digital revolution not only among the most successful CAC40 companies, but also among renowned agile players in France, and internationally, explains Eric Martineau-Fortin, managing partner of White Start Capital. With its meeting enhancing solutions, Klaxoon is taking on a huge market responding to a global need. Moreover, Matthieu Beucher and his team, are one of the most talented teams we have met in the past 24 months. We are delighted to pursue this beautiful adventure together”.