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France’s Klaxoon, A Virtual Meeting Startup, Raises $50M To Boost R&D, Hire, And Extend Global Presence

May 31, 2018
CrunchBase – French virtual meeting startup Klaxoon has raised $50 million in a Series B round led by Idinvest Partners of Paris. Bpifrance, France’s Sofiouest, Arkea, and the United Kingdom’s White Star Capital Fund also participated in the funding round.

The Paris-based company secured $5 million in a Series A financing in 2016, so the latest deal brings its total capital raised to $55 million. Founded in 2015, Klaxoon has developed a SaaS platform where users can create shared virtual meeting spaces with quizzessurveyschallenges, and brainstorming tools.

According to Klaxoon, meeting formats have evolved very little since the 1980s and the launch of presentation software. The company’s offerings aim to increase engagement in meetings, facilitate faster and improved decisions, and boost information retention. Its platform is accessible from any connected device.

The amount raised is significant for the European region, For example, European startups raising Series B funds brought in an average of $22.97 million per round in 2017, according to Crunchbase data.

Klaxoon CEO and Founder Matthieu Beucher acknowledged that the round is on the larger end of the spectrum for Europe. […]