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London startup that uses AI to help sales teams meet targets raises $5M

Kluster Team
Image credits: Kluster

Founded in London, Kluster provides companies with revenue strategy AI platforms that help them beat their revenue targets. Now, the company has netted $5 million in Series A funding led by Foresight Group, with SuperSeed, which previously backed Duel and AI Build, as well as strategic angels such as James Isilay, CEO of Cognism.

In 2020, the company raised $1 million in a Series A round. As a result of the new funding, Kluster will be able to expand its go-to-market team and fund product development. In 2023 and 2024, the company intends to expand into the American market and hire executives.

Dan Thompson, Chief Executive Officer, said, “It has never been more important to plan and execute revenue strategy than it is today. With the recent VC bubble, the metrics that mattered went from growth, burn and margins to growth, growth and growth. The bubble burst, and companies have now rediscovered the importance of rigorous planning, robust strategy and comprehensive revenue reporting. Which is why I am delighted to partner with Foresight and deepen our relationship with SuperSeed, to bring our solution to this problem to the global market.”

Jack Eadie, Managing Director at Foresight, said, “We are excited to join the exceptional Kluster team in the next part of their journey. They have a strong product-market fit, and I’m relieved to see a platform that enables companies to forecast revenue more accurately. Kluster’s team is shaping the future of sales, and I am eager to see what they develop next.”

Mads Jensen, Managing Partner at SuperSeed, said, “We often say that “sales solve all problems”, and it has never been truer than in this climate. Companies need to deliver more with less, and having a world-class sales function is essential to that. We are excited to expand our partnership with Kluster and support Rory and Dan in building a great SaaS company”.

AI-based revenue analytics and forecasting platform

Kluster was founded in 2016 by Dan Thompson and Rory Brown and offers a pipeline management and analytics tool for sales teams. By crafting the sales plan, it offers a detailed map of everything that needs to happen during the quarter and the year, including how many salespeople to hire, sales calls to make, prospects to contact, opportunities to create, etc. By breaking everything down into KPIs, everyone knows exactly what needs to happen.

The London-based startup monitors performance, revises the forecast and course-corrects the plan. Based on activity across the sales team, Kluster’s platform provides a real-time business performance forecast. This helps sales leaders understand where there might be shortfalls and what levers they should pull to improve performance.

This way, everyone will have a unified view of the performance and status of the business. This enables leadership to course correct as early as possible, always calling the right shots sooner.

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