Ottawa-based Klipfolio raises $1.7 million from BDC, FundFire, BOLDstart and others

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Data, especially big data, can be complicated. Many moving parts and several variables come into play that help you understand the bigger picture of your business, but putting it together can be time consuming and frustrating. Ottawa-based Klipfolio wants to solve this issue.

According to a report in the Ottawa Citizen, Klipfolio, previously known as Serence, has raised $1.7 million from BDC Venture Capital IT Fund, Mistral Venture Partners, Ottawa’s FundFire, Acadia Woods and BOLDstart Ventures out of New York, and CommonAngels Ventures from Boston.

Klipfolio has developed tools to analyse your data from a plethora amount a sources — Twitter, Facebook, Instagram, Salesforce, Adobe, Box, LinkedIn, Google Analytics — and organizes in a manner that is pleasing to the eye and informative. Klipfolio states their “mission is to increase the visibility of real-time data and key business metrics to help data-driven teams improve the performance and profitability of their organization.” One key factor is the timing of the reports. The program was developed to have full flexibility and can be scheduled between every 5-minutes to every 24-hours.

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What started off as a team of two, Co-founders Allan Wille and Peter Matthews, has now grown to 15 with plans to hire another 5 in the next few weeks. Klipfolio has 1,000 customers paying on a subscription model and yearly revenues are somewhere between $1 million to $2 million.

Wille says that the reason they decided to do the investment round is because their “product began flying off the shelf.” With the new hires the company is looking to keep up with demand and do more marketing and product development.

Ian Hardy

Ian Hardy

Been quietly creating and building things for years. Completely addicted to Tim Hortons and Maple Syrup.