How Much Did Productiv Raise? Funding & Key Investors

Productiv has successfully raised funding over three rounds, with the latest being a Series C round led by IVP. The platform is backed by notable investors including Atlassian Ventures and Norwest.

Keep reading to explore the intricacies of Productiv's fundraising journey and the investors backing this innovative platform.

What Is Productiv?

Productiv is a private company based in Palo Alto, California, specializing in SaaS and AI management. The company offers a platform designed to provide visibility and management of SaaS portfolios and AI capabilities, helping organizations detect and manage shadow AI, assess risks, and ensure compliance with company policies.

Founded with the goal of transforming shadow AI from a security threat into a source of controlled innovation, Productiv has grown to employ between 101-250 people. The platform is trusted by fast-growing companies around the world, offering features such as tracking AI adoption, identifying redundant tools, and maintaining an audit trail of reviews and actions.

How Much Funding Has Productiv Raised?

1. Series A
   • Amount Raised: USD 8,000,000
   • Date: April 2019
   • Lead Investors: Accel, Steve Loughlin
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To develop the initial platform and expand the team.
2. Series B
   • Amount Raised: USD 20,000,000
   • Date: October 2019
   • Lead Investors: Norwest
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To scale operations and enhance product features.
3. Series C
   • Amount Raised: USD 45,000,000
   • Date: March 2021
   • Lead Investors: IVP
   • Valuation at Round: Not publicly disclosed
   • Motivation Behind the Round: To support growth and expand the customer base.

Total Amount Raised: USD 73,000,000. Current Valuation: Not publicly disclosed.

Key Investors

• IVP (Institutional Venture Partners)
  • Details: IVP is a Silicon Valley-based venture capital firm that invests in later-stage companies. They have a strong track record of backing high-growth technology companies.
  • Investment Focus Areas: Technology, internet, software.
  • Notable Investments: Twitter, Dropbox, Snap.
• Accel
  • Details: Accel is a global venture capital firm that partners with exceptional founders with unique insights. They invest in early-stage and growth-stage companies.
  • Investment Focus Areas: Technology, internet, software.
  • Notable Investments: Facebook, Slack, Spotify.
• Norwest Venture Partners
  • Details: Norwest Venture Partners is a multi-stage investment firm that invests in early to late-stage companies across a wide range of sectors. They have a diverse portfolio and a long history of successful investments.
  • Investment Focus Areas: Technology, healthcare, financial services.
  • Notable Investments: Uber, Spotify, BlueJeans.
• Okta Ventures
  • Details: Okta Ventures is the investment arm of Okta, focusing on companies that are part of the identity and access management ecosystem. They aim to support innovative startups that align with Okta's mission.
  • Investment Focus Areas: Identity management, security, SaaS.
  • Notable Investments: Auth0 (acquired by Okta).
• Atlassian Ventures
  • Details: Atlassian Ventures is the investment arm of Atlassian, focusing on companies that enhance the Atlassian ecosystem. They support startups that integrate with Atlassian products.
  • Investment Focus Areas: Software, technology, SaaS.
  • Notable Investments: Slack, Trello (acquired by Atlassian).

What's Next for Productiv?

Productiv stands at the cusp of significant growth opportunities, driven by the increasing reliance on SaaS applications in enterprises. With the global SaaS industry valued at $157 billion, the potential for Productiv to expand its customer base and enhance its platform is immense. The company’s recent achievements, including tripling revenue and adding high-profile customers, underscore its capability to capitalize on this burgeoning market.

Future fundraising opportunities appear promising, given the successful Series C round and the involvement of strategic investors like Atlassian Ventures. These funds will likely support further scaling of operations and the addition of new features to the platform. However, Productiv must navigate challenges such as competition from other SaaS management platforms and the need to maintain data security and privacy.

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