This AI startup helps firms like TrueLayer and CurrencyCloud meet their revenue targets. Check out the 10-slide pitch deck Kluster used to raise $5 million.
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- London-based Kluster has raised $5 million in Series A funding from Foresight and SuperSeed.
- The startup uses AI to help sales teams plan and meet their revenue targets.
- Check out the 10-slide deck it used to raise the fresh funding.
A startup that uses AI to help companies achieve their revenue goals has just secured $5 million from Foresight and SuperSeed.
London-based Kluster joins a host of companies touting the use of AI as investor appetite in the sector piques. The startup has created a platform for sales teams and executives to plan, monitor, and meet their revenue targets.
“Kluster makes software that high-performing leaders use,” said cofounder and CEO Dan Thompson. “We help them beat their sales targets and we take their historic data to optimize their performance.”
The platform has two main functions: helping teams to plan and monitor their sales metrics. The planning suite enables sales teams to design a quarterly or annual plan, including everything from the number of people the company needs to hire to the contacts that sales representatives need to reach out to.
The second feature allows sales teams to keep track of their progress, using numerical data and AI. Based on historical data, Kluster revises and amends companies’ revenue forecasts, so they know if they need to course correct.
If companies are running multiple sales teams across different products, markets, and geographies, Kluster tracks whether certain sales processes slow down growth. It then uses this data to flag how different teams can optimize their strategy, Thompson told Insider. This informs the forecast, and helps update it to alert the team to any inefficiencies uncertainties, he added.
The startup makes its money by selling its software as a B2B product. Its current client base includes the likes of fintech companies such as CurrencyCloud, SEON, and TrueLayer.
The boom in funding for AI startups did help Kluster “get through the door,” Thompson said. “AI is pretty buzzy, but fundraising is always tough, and it was definitely more rigorous than it would be in the past.”
The Series A was led by Foresight, a UK-based investment manager that backs SMEs, with participation from London-based venture capital firm SuperSeed, and various angels.
With the capital injection, the startup will grow its headcount in its leadership division, and aim to expand into North America. It will also invest in its product development with AI.
Check out the 10-slide deck used to secure the funding.