Total amount raised
$26 Millions
Latest funding date
5/1/2015
Location
Wrike has successfully raised significant funding over multiple rounds, attracting notable investors such as DCM Ventures and Bain Capital Ventures. The platform offers versatile project management solutions designed to streamline workflows and improve business outcomes.
Keep reading to explore the intricacies of Wrike's fundraising journey and the investors backing this innovative platform.
What Is Wrike?
Founded in 2006 by Andrew Filev, Wrike is a project management software company based in San Jose, California. The platform is designed to streamline workflows and enhance collaboration across various teams and industries.
Wrike offers a versatile and robust solution that includes features like dashboards, AI, automation, Gantt charts, and more. These tools aim to improve visibility, eliminate wasted efforts, and deliver business outcomes faster.
With a workforce of 1001-5000 employees, Wrike continues to innovate and expand its capabilities, making it a go-to choice for businesses looking to optimize their project management processes.
How Much Funding Has Wrike Raised?
- Series A
- Amount Raised: $1M
- Date: June 2012
- Lead Investors: TMT Investments
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support initial growth and development of the platform.
- Series A
- Amount Raised: $10M
- Date: October 2013
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series B
- Amount Raised: $15M
- Date: May 2015
- Lead Investors: Scale Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel growth in the enterprise sector and expand internationally.
Total Amount Raised: $26M. Current Valuation: Not publicly disclosed.
Key Investors
- Scale Venture Partners
- Details: Scale Venture Partners is a venture capital firm that invests in early-in-revenue technology companies. They focus on helping companies scale and achieve significant growth.
- Investment Focus Areas: Enterprise software, cloud computing, SaaS.
- Notable Investments: Box, DocuSign, HubSpot.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital arm of Bain Capital, investing in seed to growth-stage companies. They leverage Bain Capital's extensive network and resources to support their portfolio companies.
- Investment Focus Areas: Software, infrastructure, fintech, healthcare.
- Notable Investments: LinkedIn, DocuSign, SurveyMonkey.
- TMT Investments
- Details: TMT Investments is a venture capital firm that focuses on investing in high-growth technology companies. They have a strong presence in the US and Europe.
- Investment Focus Areas: Internet, mobile applications, SaaS.
- Notable Investments: Bolt, Pipedrive, Wrike.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. They have a global presence with a focus on the US, China, and Japan.
- Investment Focus Areas: Consumer internet, software, mobile.
- Notable Investments: Bill.com, SoFi, Lime.
- DCM Ventures
- Details: DCM Ventures is a venture capital firm that invests in early-stage technology companies. They have a global presence with a focus on the US, China, and Japan.
- Investment Focus Areas: Consumer internet, software, mobile.
- Notable Investments: Bill.com, SoFi, Lime.
What's Next for Wrike?
Wrike's future looks promising with significant opportunities on the horizon. The company is poised to leverage its new customization features to attract more enterprise clients, a move that could substantially increase its market share. Additionally, expanding into international markets, particularly in Europe, presents a vast growth potential. With a current addition of $1.5 million in new annualized recurring revenue each month, the scale of these opportunities is immense.
Given the favorable capital markets, Wrike is well-positioned for future fundraising rounds to support its ambitious growth plans. However, the company will need to navigate challenges such as intense competition from other work management platforms and the necessity to continuously innovate. Managing rapid growth and scaling operations effectively will also be critical to sustaining its upward trajectory.
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