Welcome!

News Feed Item

Clarizen Raises $35 Million to Accelerate Global Leadership in Enterprise Work Collaboration

Goldman Sachs-Led Investment Underscores Company's Record Growth, Customer Momentum, Product Innovation

SAN MATEO, CA -- (Marketwired) -- 05/21/14 -- Clarizen, the leader in enterprise work collaboration software, today announced that it has closed a $35 million venture funding round led by Goldman Sachs & Co. This latest Series F investment round brings Clarizen's total funding to date to $90 million. All existing investors also participated in the round, including Benchmark Capital, Carmel Ventures, DAG Ventures, Opus Capital, and Vintage Investment Partners. The company will use this latest funding round to expand global market share, focusing on customer success, including onboarding and support, and continuing product innovation to support the enterprise market.

This Goldman Sachs-led investment strengthens Clarizen's company and customer-related momentum. Clarizen, with more than 2,000 customers in 76 countries, recently reported nearly 100 percent quarter-over-quarter growth and the addition of 230 customers, including Electronic Arts, Sony and one of the Big Four audit firms.

"Enterprise work collaboration is transforming the way global organizations succeed and Clarizen is leading enterprises into 21st century decision-making and execution," said Avinoam Nowogrodski, CEO, Clarizen. "Goldman Sachs has a proven track record funding growing companies that are moving toward an IPO and its partnership underscores the continued momentum of both Clarizen and the enterprise work collaboration space."

"Unlike other SaaS companies that focus primarily on selling to a functional department within organizations, Clarizen targets all employees wall-to-wall across enterprises, which suggests the magnitude of the opportunity. Clarizen's opportunity is across verticals, across geographies, across functional departments, and across customer segments," stated Michael Huang, Senior Research Analyst -- SaaS/Application Software, in a recent Needham and Company report.

Clarizen has transformed work collaboration with its award-winning product for the enterprise and mid-market, Clarizen v6. This new investment will allow Clarizen to build on its market-leading v6 platform, keeping one step ahead of the product innovation curve.

Clarizen continues to add an array of product and company-related awards and distinctions to its roster. Key 2014 highlights include:

  • Ranking in the "Champion" quadrant of Info-Tech Research Group's 2014 Mid-Market Project and Portfolio (PPM) Vendor Landscape report. Clarizen also won the report's "Trend Setter Award" presented to "only those solutions that are deemed to include the most original/inventive product/service, or the most original/inventive feature/capability of a product/service."

  • Winning Business Intelligence Group's 2014 "BIG Innovation Award," presented to organizations/people that bring new ideas to life and change the way we experience the world, for Clarizen v6.

  • Ranking in the 2014 KMWorld list of "100 Companies that Matter in Knowledge Management." The list is compiled during a year-long collaborative effort among colleagues, analysts, system integrators and a select group of users and highlights companies that best fulfill the goal of delivering the right information to the right people at the right time.

Clarizen also announced the appointment of Hillel Moerman, Co-Head, Private Capital Investing Group ("PCI"), Goldman Sachs, to its board of directors and Holger Staude, also a member of PCI, as board observer. PCI is the firm's investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies.

"Clarizen's strong management team and customer-proven product have positioned the company to be a global leader in the enterprise work collaboration space," said Hillel Moerman. "We see strong market growth potential, as virtually every company can use project management/collaboration software. The company continues its product innovation, and we are pleased to contribute to Clarizen's overall product, market and company success."

About Goldman Sachs Private Capital Investing
Private Capital Investing ("PCI") is Goldman Sachs' investment platform dedicated to providing preferred equity and mezzanine capital to growth and middle market companies based in North America. PCI invests $20 million - $150 million of equity per transaction in the form of common, preferred, and structured equity. Contact: [email protected]

About Clarizen

Clarizen is the leader in enterprise-class work collaboration and project management solutions that harness the power of the cloud to get work done efficiently, effectively and with better results. Fast to deploy and easy to use, Clarizen is redefining enterprise collaboration by connecting social context with tasks and projects to drive increased productivity and profitability. Clarizen fuels the high-performance teams of more than 2,000 organizations across 76 countries, including more than 25 of the Fortune 500. In 2013, Clarizen received the SIIA CODiE Award for "Best Product Management Solution." Founded in 2006, Clarizen is privately held with offices in San Mateo, California and Hod Hasharon, Israel. For more information, visit www.clarizen.com.

Clarizen is a registered trademark and the Clarizen logo is a trademark of Clarizen Ltd. All other trademarks are the property of their respective owners.

Media Contact:
Jen Howard
Clarizen
650-544-2937
Email Contact

More Stories By Marketwired .

Copyright © 2009 Marketwired. All rights reserved. All the news releases provided by Marketwired are copyrighted. Any forms of copying other than an individual user's personal reference without express written permission is prohibited. Further distribution of these materials is strictly forbidden, including but not limited to, posting, emailing, faxing, archiving in a public database, redistributing via a computer network or in a printed form.

Latest Stories
"ZeroStack is a startup in Silicon Valley. We're solving a very interesting problem around bringing public cloud convenience with private cloud control for enterprises and mid-size companies," explained Kamesh Pemmaraju, VP of Product Management at ZeroStack, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
In his session at 21st Cloud Expo, Carl J. Levine, Senior Technical Evangelist for NS1, will objectively discuss how DNS is used to solve Digital Transformation challenges in large SaaS applications, CDNs, AdTech platforms, and other demanding use cases. Carl J. Levine is the Senior Technical Evangelist for NS1. A veteran of the Internet Infrastructure space, he has over a decade of experience with startups, networking protocols and Internet infrastructure, combined with the unique ability to it...
"Codigm is based on the cloud and we are here to explore marketing opportunities in America. Our mission is to make an ecosystem of the SW environment that anyone can understand, learn, teach, and develop the SW on the cloud," explained Sung Tae Ryu, CEO of Codigm, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
High-velocity engineering teams are applying not only continuous delivery processes, but also lessons in experimentation from established leaders like Amazon, Netflix, and Facebook. These companies have made experimentation a foundation for their release processes, allowing them to try out major feature releases and redesigns within smaller groups before making them broadly available. In his session at 21st Cloud Expo, Brian Lucas, Senior Staff Engineer at Optimizely, discussed how by using ne...
"CA has been doing a lot of things in the area of DevOps. Now we have a complete set of tool sets in order to enable customers to go all the way from planning to development to testing down to release into the operations," explained Aruna Ravichandran, Vice President of Global Marketing and Strategy at CA Technologies, in this SYS-CON.tv interview at DevOps Summit at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"There's plenty of bandwidth out there but it's never in the right place. So what Cedexis does is uses data to work out the best pathways to get data from the origin to the person who wants to get it," explained Simon Jones, Evangelist and Head of Marketing at Cedexis, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
Large industrial manufacturing organizations are adopting the agile principles of cloud software companies. The industrial manufacturing development process has not scaled over time. Now that design CAD teams are geographically distributed, centralizing their work is key. With large multi-gigabyte projects, outdated tools have stifled industrial team agility, time-to-market milestones, and impacted P&L stakeholders.
"Cloud Academy is an enterprise training platform for the cloud, specifically public clouds. We offer guided learning experiences on AWS, Azure, Google Cloud and all the surrounding methodologies and technologies that you need to know and your teams need to know in order to leverage the full benefits of the cloud," explained Alex Brower, VP of Marketing at Cloud Academy, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clar...
Gemini is Yahoo’s native and search advertising platform. To ensure the quality of a complex distributed system that spans multiple products and components and across various desktop websites and mobile app and web experiences – both Yahoo owned and operated and third-party syndication (supply), with complex interaction with more than a billion users and numerous advertisers globally (demand) – it becomes imperative to automate a set of end-to-end tests 24x7 to detect bugs and regression. In th...
Enterprises are moving to the cloud faster than most of us in security expected. CIOs are going from 0 to 100 in cloud adoption and leaving security teams in the dust. Once cloud is part of an enterprise stack, it’s unclear who has responsibility for the protection of applications, services, and data. When cloud breaches occur, whether active compromise or a publicly accessible database, the blame must fall on both service providers and users. In his session at 21st Cloud Expo, Ben Johnson, C...
"Infoblox does DNS, DHCP and IP address management for not only enterprise networks but cloud networks as well. Customers are looking for a single platform that can extend not only in their private enterprise environment but private cloud, public cloud, tracking all the IP space and everything that is going on in that environment," explained Steve Salo, Principal Systems Engineer at Infoblox, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Conventio...
Data scientists must access high-performance computing resources across a wide-area network. To achieve cloud-based HPC visualization, researchers must transfer datasets and visualization results efficiently. HPC clusters now compute GPU-accelerated visualization in the cloud cluster. To efficiently display results remotely, a high-performance, low-latency protocol transfers the display from the cluster to a remote desktop. Further, tools to easily mount remote datasets and efficiently transfer...
"Akvelon is a software development company and we also provide consultancy services to folks who are looking to scale or accelerate their engineering roadmaps," explained Jeremiah Mothersell, Marketing Manager at Akvelon, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"MobiDev is a software development company and we do complex, custom software development for everybody from entrepreneurs to large enterprises," explained Alan Winters, U.S. Head of Business Development at MobiDev, in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.
"We're developing a software that is based on the cloud environment and we are providing those services to corporations and the general public," explained Seungmin Kim, CEO/CTO of SM Systems Inc., in this SYS-CON.tv interview at 21st Cloud Expo, held Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA.