Cloud-based collaboration provider Huddle Inc. has raised $51 million in funding from new and existing investors to extend its revenue momentum into the coming year. The firm saw a surge of demand for its namesake platform in the last year that sent enterprise sales tripling over the first three quarters of 2014.
Huddle also secured seven of its ten most lucrative contracts to date along the way while continuing to make headway in the public sector. The firm now boasts 80 percent of UK government offices, NASA and numerous local agencies among its more than 100,000 global clients, along with Kia Motors Corp., AKQA Holdings Inc., Panasonic Europe and other big names from the private sector.
The London-based Huddle owes its success to a one-stop-shop approach centered on bringing together most features that typical knowledge workers need to be productive in a unified interface that provides centralized access to files and documents. Users are given a fair amount of choice in how they share each item, with the platform providing not only access-control functionality but also the ability to to create customized folders for sharing information with outside peers.
Also playing a major role in Huddle’s popularity is the fact that it has been investing heavily in drawing organizations away from the competition, namely Microsoft. The company launched a connector for Office earlier this year that directly hooks up the productivity suite to its platform to provide embedded collaboration functionality and various sharing features aimed at making it easier for users to abandon SharePoint.
Huddle will use the new funding to double its product development team and continue scaling operations in the US and Europe. The round was led by Zouk Capital and Hermes GPE Environmental Innovation Fund with participation from all existing investors including Matrix Partners, Jafco Ventures, DAG Ventures and Eden Ventures, which had previously injected $48 million into the startup.
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