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Investment Press Release: Kleene.ai Secures $14M in Series A Funding Led by Octopus Ventures

kleene.ai secures $14M Series A for breakthrough technology accelerating speed to insight from data

kleene.ai has secured $14M in Series A funding, to accelerate the development of its breakthrough technology automating data analytics infrastructure; creating the fastest way for businesses to leverage data in decision-making. Alongside the technology, kleene partners with business users to ensure their speed to outcomes, with a suite of professional analytics services.

The round was led by Octopus Ventures, one of Europe’s largest venture capital investors, with participation from existing investors Episode 1 and SuperSeed.

Data has become a critical part of business strategy across all industries as analysis and predictive analytics enable businesses to remain ahead of competitors. According to Mckinsey, data-driven companies are 23 times more likely to acquire customers, six times as likely to retain customers and 19 times more likely to be profitable. This appetite for data has resulted in skyrocketing salaries for data professionals, with a recent survey putting the average salary at $146,000 per annum. Businesses without experience in data and without the budget for data engineers are at risk of being left behind.

kleene.ai understands this well, as co-founders Andrew Thomas (CEO), Matt Sawyer (CDO) and Ben Long (CTO) experienced the problem of complex, expensive data teams in their roles as senior data and technology leaders in companies such as Just Eat, Trainline and Momondo (acquired by Kayak). They therefore decided to solve it by building an all-in-one, no-code platform that helps business leaders generate value from data without the need for expensive data teams.

kleene.ai is working with a range of D2C businesses including Huel, Moonpig, Daye and The Modern Milkman to help leverage their data to meet customers’ demand for a personalised, sophisticated experience and service. The world of retail has changed, with Covid-19 amplifying the growth in e-commerce and accelerating growth in D2C (direct-to-consumer) brands, as businesses respond to the shifting buying patterns of the modern day consumer. As a result, the demand for effective use of data for actionable insights, accurate forecasting and determining next best action has only increased and this is where kleene.ai comes in to support with its technology and expertise.

kleene intends to use the funding raised to accelerate its traction in the U.S, further strengthen its technical team to continue advancing the development of their breakthrough data platform.

Andrew Thomas, CEO and Co-Founder of kleene.ai said:
“The whole team is excited to take the next step to further support organisations in driving value from their data, so that they can achieve their business goals. The investment from Octopus Ventures is a fantastic affirmation of the scale of impact we’ve been able to deliver to our customers. We look forward to working with Octopus to further develop our product and expand into new markets.”

Conor Scanlan, investor at Octopus Ventures, said:
“Every business owner knows they need to use data to win, but they don’t have the tools to pull insights from the ever-increasing volume of internal and external data created. kleene.ai solves this problem by putting data insights into the hands of the right employees at the right time, allowing them to make critical strategic decisions. Andrew, Matt and Ben have huge experience in the field and could see where the market was heading. With kleene.ai they’ve taken all those learnings to build a solution that meets the needs of future Heads of Data and Chief Data Officers. The market is waking up to the power of data and kleene.ai is perfectly placed to capitalise on this and grow into large untapped markets.”

kleene.ai customer, John Hughes, Founder of Modern Milkman comments:
“We’re breaking the data glass ceiling – as a result of kleene.ai, we’re in a position with our data where everyone can be an analyst, no matter their role in the business.”

 

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