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
Digital transformation is changing the face of business. The IDC predicts that enterprises will commit to a massive new scale of digital transformation, to stake out leadership positions in the "digital transformation economy." Accordingly, attendees at the upcoming Cloud Expo | @ThingsExpo at the Santa Clara Convention Center in Santa Clara, CA, Oct 31-Nov 2, will find fresh new content in a new track called Enterprise Cloud & Digital Transformation.
The dynamic nature of the cloud means that change is a constant when it comes to modern cloud-based infrastructure. Delivering modern applications to end users, therefore, is a constantly shifting challenge. Delivery automation helps IT Ops teams ensure that apps are providing an optimal end user experience over hybrid-cloud and multi-cloud environments, no matter what the current state of the infrastructure is. To employ a delivery automation strategy that reflects your business rules, making r...
Most technology leaders, contemporary and from the hardware era, are reshaping their businesses to do software. They hope to capture value from emerging technologies such as IoT, SDN, and AI. Ultimately, irrespective of the vertical, it is about deriving value from independent software applications participating in an ecosystem as one comprehensive solution. In his session at @ThingsExpo, Kausik Sridhar, founder and CTO of Pulzze Systems, will discuss how given the magnitude of today's applicati...
Smart cities have the potential to change our lives at so many levels for citizens: less pollution, reduced parking obstacles, better health, education and more energy savings. Real-time data streaming and the Internet of Things (IoT) possess the power to turn this vision into a reality. However, most organizations today are building their data infrastructure to focus solely on addressing immediate business needs vs. a platform capable of quickly adapting emerging technologies to address future ...
SYS-CON Events announced today that NetApp has been named “Bronze Sponsor” of SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. NetApp is the data authority for hybrid cloud. NetApp provides a full range of hybrid cloud data services that simplify management of applications and data across cloud and on-premises environments to accelerate digital transformation. Together with their partners, NetApp emp...
In his session at 21st Cloud Expo, Raju Shreewastava, founder of Big Data Trunk, will provide a fun and simple way to introduce Machine Leaning to anyone and everyone. Together we will solve a machine learning problem and find an easy way to be able to do machine learning without even coding. Raju Shreewastava is the founder of Big Data Trunk (www.BigDataTrunk.com), a Big Data Training and consulting firm with offices in the United States. He previously led the data warehouse/business intellige...
We all know that end users experience the Internet primarily with mobile devices. From an app development perspective, we know that successfully responding to the needs of mobile customers depends on rapid DevOps – failing fast, in short, until the right solution evolves in your customers' relationship to your business. Whether you’re decomposing an SOA monolith, or developing a new application cloud natively, it’s not a question of using microservices – not doing so will be a path to eventual b...
As popularity of the smart home is growing and continues to go mainstream, technological factors play a greater role. The IoT protocol houses the interoperability battery consumption, security, and configuration of a smart home device, and it can be difficult for companies to choose the right kind for their product. For both DIY and professionally installed smart homes, developers need to consider each of these elements for their product to be successful in the market and current smart homes.
Transforming cloud-based data into a reportable format can be a very expensive, time-intensive and complex operation. As a SaaS platform with more than 30 million global users, Cornerstone OnDemand’s challenge was to create a scalable solution that would improve the time it took customers to access their user data. Our Real-Time Data Warehouse (RTDW) process vastly reduced data time-to-availability from 24 hours to just 10 minutes. In his session at 21st Cloud Expo, Mark Goldin, Chief Technolo...
SYS-CON Events announced today that Avere Systems, a leading provider of enterprise storage for the hybrid cloud, will exhibit at SYS-CON's 21st International Cloud Expo®, which will take place on Oct 31 - Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Avere delivers a more modern architectural approach to storage that doesn't require the overprovisioning of storage capacity to achieve performance, overspending on expensive storage media for inactive data or the overbui...
Enterprises are adopting Kubernetes to accelerate the development and the delivery of cloud-native applications. However, sharing a Kubernetes cluster between members of the same team can be challenging. And, sharing clusters across multiple teams is even harder. Kubernetes offers several constructs to help implement segmentation and isolation. However, these primitives can be complex to understand and apply. As a result, it’s becoming common for enterprises to end up with several clusters. Thi...
Widespread fragmentation is stalling the growth of the IIoT and making it difficult for partners to work together. The number of software platforms, apps, hardware and connectivity standards is creating paralysis among businesses that are afraid of being locked into a solution. EdgeX Foundry is unifying the community around a common IoT edge framework and an ecosystem of interoperable components.
In his general session at 21st Cloud Expo, Greg Dumas, Calligo’s Vice President and G.M. of US operations, will go over the new Global Data Protection Regulation and how Calligo can help business stay compliant in digitally globalized world. Greg Dumas is Calligo's Vice President and G.M. of US operations. Calligo is an established service provider that provides an innovative platform for trusted cloud solutions. Calligo’s customers are typically most concerned about GDPR compliance, applicatio...
Microsoft Azure Container Services can be used for container deployment in a variety of ways including support for Orchestrators like Kubernetes, Docker Swarm and Mesos. However, the abstraction for app development that support application self-healing, scaling and so on may not be at the right level. Helm and Draft makes this a lot easier. In this primarily demo-driven session at @DevOpsSummit at 21st Cloud Expo, Raghavan "Rags" Srinivas, a Cloud Solutions Architect/Evangelist at Microsoft, wi...
Though cloud is the future of enterprise computing, a smooth transition of legacy applications and systems is critical for seamless business operations. IT professionals are eager to start leveraging the cost, scale and other benefits of cloud, but with massive investments already in place in existing infrastructure and a number of compliance and resource hurdles, it can be challenging to move to a cloud-based infrastructure.