The french startup, KLAXOON, specializing in collaborative tools, has announced it is in the final stages of acquisition by Wrike, a U.S.-based provider of project management solutions. This transaction, expected to close in the first quarter of 2025, represents a new chapter for Klaxoon, which will integrate into the Wrike platform to enhance its visual collaboration offerings.
A turnaround backed by €15 million and new leadership
Klaxoon’s acquisition by Wrike marks the culmination of a strategic repositioning initiated in 2022. Following a €15 million funding round (a far cry from the €100 million initially targeted), historical investors — EURAZEO, BPIFRANCE, SOFIOUEST, among others — appointed Hervé Simonin, an experienced entrepreneur, to lead the company’s recovery efforts.
Under his leadership, the company implemented significant measures:
- Workforce reduction: The team was downsized from approximately 300 to just over 200 employees.
- Cost optimization: The company refocused on strategic projects, such as revamping its platform.
- Product redesign: In April 2024, Klaxoon launched a revamped version of its platform, tailored to the growing needs of hybrid work and visual collaboration.
Despite these adjustments, Klaxoon maintained a stable ARR of €20 million and a strong customer base of 10,000 companies, including all CAC 40 corporations. This repositioning aimed to maximize operational efficiency while boosting the company’s appeal in preparation for an investor exit after their involvement since 2018.
WRIKE: From collaboration pioneer to turbulent governance
Founded in 2006 by Andrew Filev, Wrike established itself as a pioneer in collaborative management platforms. In 2021, at its peak, the company was acquired by Citrix for $2.2 billion, integrating its solution into a broader technology portfolio. Less than two years later, Wrike was spun off and taken over by two shareholder funds before being acquired in July 2023 by the private equity firm Symphony Technology Group (STG).
This acquisition marked the departure of founder Andrew Filev and the appointment of Thomas Scott, former CFO, as CEO. Under his leadership, Wrike repositioned itself to compete with players like Asana, Monday.com, and Smartsheet, focusing on AI, advanced reporting tools, and strong customization for complex workflows.
WRIKE bets on KLAXOON to reclaim Europe
With this acquisition, Wrike aims to merge visual collaboration with structured workflow management. Beyond the product itself, KLAXOON’s strong client portfolio provides Wrike with a gateway into France, creating an opportunity to expand its footprint in the European market.
This alliance, whose financial details remain undisclosed, also marks the departure of Klaxoon’s founder, Matthieu Beucher, who has been based in the U.S. since 2017.
