Klaxoon today announced a $50 million round of funding, which the French company hopes will allow it to capitalize on the rapid word-of-mouth growth it has seen over the past two years.
Based in the northwestern city of Rennes, Klaxoon officially launched its employee collaboration product in 2015. It now has customers in 120 countries and boasts 1 million monthly active users, and it has garnered this growth without much in the way of marketing. This new funding signals a shift in strategy as the company pursues further expansion.
“We’re really going to be able to the expand the Klaxoon ecosystem,” said CEO Matthieu Beucher. “We really want to find partners who will help build a long-term vision.”
Klaxoon is designed to make meetings more efficient while encouraging greater participation from all employees. It offers a $19 monthly subscription plan for its SaaS meeting service that works across just about any device and includes features like timekeeping, brainstorming tools, and an interactive white board. The company also sells what it calls the Klaxoon Box, which creates a closed Wi-Fi network that allows meeting attendees to tap into the service when there is no internet connection.
The latest round of funding was led by Idinvest Partners and included funding from previous investors, such as BPI, Sofiouest, Arkea, and White Star Capital Fund.
In addition to ramping up its marketing efforts, particularly in the U.S. — where Klaxoon is opening a New York City office — the company will use the money to boost R&D and product development, Beucher said. Klaxoon currently has 150 employees and plans to hire another 100 employees this year.