Kaleo Software secures $7M to accelerate innovation and growth
Added funding enables enterprise knowledge-sharing technology provider to enhance offerings and further invest in customer success
EL SEGUNDO, Calif. – Kaleo Software, the enterprise cloud platform for capturing and sharing employee expertise, announced that it has secured a new $7 million round of financing led by OMERS Ventures, with additional participation from Saturn Partners, and prior investors.
Kaleo Software was founded in 2012 to activate knowledge and expertise-sharing in the workplace, as well as improve upon traditional knowledge management solutions which currently have low adoption and usage. Kaleo connects employees with subject matter expertise from their organization’s internal experts and from within any technology platform anytime, anywhere. Whether employees are in sales and working in Salesforce.com, in HR and leveraging Workday, or in IT and using a ticketing system like Zendesk, Kaleo provides enterprise enablement by embedding into these solutions and delivering the connection for real-time knowledge collaboration. Kaleo’s platform provides curated, bite-sized and contextual answers to employee questions straight from their expert colleagues on any area of the business, including onboarding and IT, sales and sales operations, HR, training, compliance and more.
Organizations like Dell, Randstad, Lennar and Viacom use Kaleo to ensure consistent workforce knowledge and scale expertise across the enterprise. Kaleo helps teams decrease the amount of time employees spend searching for answers to essential business questions while freeing up an organization’s experts from answering redundant questions. This allows the workforce to contribute more valuable, strategic work—in turn, accelerating productivity, ensuring project accuracy and increasing product and process adoption among employees. New Kaleo customer acquisitions include LA County Public Health, Top Golf and Bacardi.
Toyota Financial Services Drives Knowledge-Sharing with Kaleo
In Toyota’s preparation to move its North American headquarters to Plano, Texas in 2017, the company’s financial services division — Toyota Financial Services — turned to Kaleo to help capture the essential, tacit knowledge of its workforce. Using Kaleo, Toyota Financial Services (TFS) is able to bring team-wide visibility and access to the knowledge of its internal experts on a range of topics, including company policies, legal requirements, compliance regulations, training and more.
TFS created an internal “knowledge concierge” to drive awareness and adoption for Kaleo, encouraging employees to post their questions and expertise in the platform. Since Kaleo’s rollout, the TFS team has significantly reduced its hidden pockets of knowledge, resulting in a 21 percent decrease in the amount of time employees spend searching for answers and a 68 percent decrease in the amount of support calls handled by the team’s experts. Now, TFS is transforming its culture of knowledge from being informal and siloed to strategic and transparent, a shift that will be essential to the team’s success as it brings on new employees in Plano.
“Kaleo is playing a crucial role in ensuring we don’t lose important knowledge and processes as we move our headquarters next year,” said Chris Ballinger, senior vice president and chief financial officer, Toyota Financial Services. “With Kaleo, we are significantly reducing the risk of losing essential business knowledge and shortening the learning curve for our new hires.”
Kaleo Secures $7 Million in Added Funding
The new $7 million funding round led by OMERS Ventures creates significant opportunities for the company to continue to innovate and further enhance its solutions. Prior investors Karlin Ventures, Qualcomm Ventures, Double M Partners and Greycroft Partners also participated in this round of funding.
“Kaleo has eliminated one of the top contributors to productivity loss and frustration in the digital workplace — time wasted searching for answers and information,” said Damien Steel, managing director, OMERS Ventures. “By creating a way for workforce knowledge to be dynamic and accessible for all employees, Kaleo has opened up a world of possibilities for organizations to more effectively implement new technologies and processes, identify and develop internal expertise and ensure employees are equipped to do their best work.”
“We are proud to help some of today’s leading organizations tap into their workforce’s knowledge to bring consistency and transparency to the employee experience,” said Phil Hui-Bon-Hoa, founder and CEO, Kaleo. “This added funding will allow us to continue our momentum in product innovation and customer acquisition. Having seen incredible impact on employee productivity among our customers, we are eager to continue to transform the way employees collaborate and exchange know-how.”
About OMERS Ventures
OMERS Ventures (Twitter: @OMERSVentures) is the venture capital investment arm of OMERS, one of Canada’s largest pension funds with $72 billion in net assets. OMERS Ventures is looking for successful companies with significant growth potential and market opportunities. We are seeking like-minded partners with a shared vision of building a vibrant and successful knowledge economy.
Kaleo is an enterprise cloud platform for capturing and sharing employee know-how. The solution connects employees with curated subject matter expertise from their organization’s internal experts and from within any technology platform anytime, anywhere, resulting in time saved searching for answers and increased accuracy. Organizations like Dell, Randstad, Toyota Financial Services, Ventura Foods and Viacom use Kaleo to create consistent workforce knowledge and to enable employees to contribute their best work more efficiently. To learn more about Kaleo, visit kaleosoftware.com.