Cluep, an adtech startup, brought for $40 million by Impact Group

Cluep, an adtech startup, brought for $40 million by Impact Group

Cluep, a Canadian adtech startup, recently raised less than $500,000 from angel investors before the sale.

  • The digital advertising platform uses AI to help brands connect with people based on their interest, where they have visited, or how they are feeling.
  • “No one wanted to give us money at that time so we had to live off of my student loans,” said co-founder Karan Walia. “We did pretty much everything, whether it was programming and building the product, or going out and selling. I was our first sales rep and I was pretty bad early on but I learned.”
  • Cluep raised enough money to pay the founder’s salary, hire some engineers and sales representatives, and find some office space. Revenue has increased from $2 million CAD in 2015 to be on track to reach $30 million CAD in 2018.