Total amount raised
$73 Millions
Latest funding date
03/01/2021
Location
Productiv has successfully raised significant funding over multiple rounds, with notable investors including Atlassian Ventures and Norwest Venture Partners. The platform offers comprehensive visibility into an organization's SaaS ecosystem, providing deep usage analytics and feature-level insights.
Keep reading to explore the intricacies of Productiv's fundraising journey and the investors backing this innovative platform.
What Is Productiv?
Productiv, founded in 2018, is headquartered in Palo Alto, California, with additional offices in San Francisco, Bellevue, and New York. The company was established by Ashish Aggarwal, Jody Shapiro, and Munish Gandhi.
Productiv offers a SaaS Intelligence™ platform that provides real-time employee engagement data to help organizations manage their SaaS portfolios. This enables proactive governance, increases operational velocity, and enhances employee engagement.
With a team of 101-250 employees, Productiv helps companies like Fox, Uber, and Zoom optimize their SaaS investments for maximum ROI.
How Much Funding Has Productiv Raised?
- Series A
- Amount Raised: $8M
- Date: April 2019
- Lead Investors: Accel, Steve Loughlin
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the SaaS Intelligence™ platform and expand initial market reach.
- Series B
- Amount Raised: $20M
- Date: October 2019
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and enhance platform capabilities.
- Series C
- Amount Raised: $45M
- Date: March 2021
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand operations amid increased demand during the pandemic.
Total Amount Raised: $73M. Current Valuation: Not publicly disclosed.
Key Investors
- IVP (Institutional Venture Partners)
- Details: IVP is a later-stage venture capital and growth equity firm. They focus on high-growth companies in the technology sector.
- Investment Focus Areas: Technology, media, internet companies.
- Notable Investments: Twitter, Slack, Snap, Dropbox.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage venture capital and growth equity investment firm. They invest in early to late-stage companies across various sectors.
- Investment Focus Areas: Consumer, enterprise, healthcare sectors.
- Notable Investments: Uber, Spotify, Jet.
- Accel
- Details: Accel is a venture capital firm that works with startups in seed, early, and growth-stage investments. They have a global presence and a strong track record in the tech industry.
- Investment Focus Areas: Technology companies.
- Notable Investments: Facebook, Dropbox, Slack.
- Steve Loughlin
- Details: Steve Loughlin is a partner at Accel. He specializes in enterprise software and SaaS investments.
- Investment Focus Areas: Enterprise software, SaaS.
- Notable Investments: Gainsight, People.ai, Ironclad.
- Atlassian Ventures
- Details: Atlassian Ventures is the investment arm of Atlassian, known for its collaboration and productivity software. They invest in early-stage companies building products in the Atlassian ecosystem.
- Investment Focus Areas: Collaboration tools, productivity software.
- Notable Investments: Split.io, Snyk, Zoom.
What's Next for Productiv?
Productiv stands at the cusp of significant growth opportunities, driven by the increasing adoption of SaaS applications in enterprises. With a market estimated at $157 billion, the company can expand its customer base by targeting enterprises needing better management and insights into their software usage. The recent Series C funding round, which brought in $45 million, positions Productiv well for future fundraising to further accelerate its growth and expand its product offerings.
However, the path forward is not without challenges. Productiv will need to navigate competition from other SaaS management platforms and ensure its platform can scale effectively as the customer base grows. Additionally, keeping up with rapid technological advancements and evolving customer needs will be crucial for sustained success. Despite these hurdles, the company's strong growth trajectory and the increasing demand for SaaS management solutions suggest a promising future.
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