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The Rennes-based startup, KLAXOON, specializing in collaborative tools, has announced that it has entered the final phase of acquisition by Wrike, an American player in project management solutions. This operation, which should be finalized in the first quarter of 2025, marks a new stage for Klaxoon, which will integrate the Wrike platform to enrich its visual collaboration offers.
A turnaround supported by 15 million euros and new management
The acquisition of Klaxoon by Wrike marks the culmination of a strategic repositioning initiated in 2022. Following a fundraising of 15 million euros (far from 100 million initially hoped for), the historic shareholders — Eurazeo, Bpifrance, Sofiouest, etc. — have entrusted management to Hervé Simoninan experienced entrepreneur, to lead a turnaround.
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Under his leadership, the company implemented drastic measures:
- Downsizing: The teams went from around 300 to just over 200 employees.
- Cost optimization: A refocusing of priorities on strategic projects, such as the overhaul of its platform, was successfully completed.
- Product redesign: In April 2024, Klaxoon unveiled a redesigned version of its platform, aimed at meeting the growing needs of businesses for hybrid working and visual collaboration.
Despite these adjustments, Klaxoon maintained a stable ARR of 20 million euros and a solid foundation of 10,000 customersincluding all CAC 40 companies. This repositioning aimed to maximize operational efficiency while strengthening the attractiveness of the company with a view to an exit of investors present since 2018.
WRIKE: from the pioneer of collaborative management to turbulent governance
Founded in 2006 by Andrew Filev, Wrike has established itself as one of the pioneers of collaborative management platforms. In 2021, at its peak, the company was acquired by Citrix For $2.2 billionintegrating its offering into a broader technological portfolio. Less than two years later, Wrike was split from the group and taken over by two shareholder funds, then finally bought back in July 2023 by the private equity fund Symphony Technology Group (STG).
This acquisition is marked by the departure of founder Andrew Filev and the appointment of Thomas Scottformer CFO, to the position of CEO. Under his leadership, Wrike is repositioning itself to compete with players like Asana, Monday.com And Smartsheetby focusing on theAIadvanced reporting tools, and strong customization for complex workflows.
WRIKE relies on KLAXOON to reconquer Europe
With this acquisition WRIKE aims to merge visual collaboration and structured workflow management. But beyond the product, and with its customer portfolio, KLAXOON offers WRIKE a gateway to France, which can allow it to develop again on the European market.
It is in this context that this alliance is being achieved, the financial aspects of which have not been revealed and which remains marked by the departure of the startup’s founder, Matthieu Beucher, who has been based in the United States since 2017. It remains to be seen whether investors have recouped their investment.
