Product table, a client-centric product management platform, announced that it has closed $125 million (~€110 million) in a Series D funding round at a $1.72 billion valuation. dollars (about 1.52 billion euros), thus achieving the coveted “unicorn” status.
The round was led by Dragoneer Investment Group with Tiger Global as secondary lead investor. Existing investors including Bessemer Venture Partners, Sequoia Capital, Kleiner Perkins, Index Ventures and Credo Ventures also participated.
Get to know the amazing finalists here
The funding announcement comes ten months after securing $72 million (approximately €63.7 million) in a Series C funding round. The latest round brings Productboard’s total funding raised to 262 million dollars (about 231 million euros).
Use of funds
The Czech company says the new funds will allow it to expand its product offerings, accelerate recruitment efforts and solidify its leadership position in product management software.
Hubert Palan, Founder and CEO of Productboard, says, “We believe in a world characterized by increased competition, a new hybrid work model and higher consumer expectations. Incorporating customer feedback into every step of the strategy and product execution is ultimately the common denominator shared by top products. We are excited to leverage this new round of funding to further develop the Productboard platform and make product management more accessible to all. of the company.”
Sandwiched between technology, business and user experience, product managers are under more pressure than ever. Here’s where Productboard fills the void.
Productboard: what you need to know
Founded by Hubert Palan and Daniel Hejl in 2014, Productboard helps companies build a product in a systematic way.
The platform provides a centralized hub that collects customer feedback, streamlines complexity, provides structure, and improves product visibility, access, and alignment across an organization.
Partnerships, community and growth
More than 5,400 companies, including Microsoft, Zoom, 1-800-Contacts, and UiPath, use Productboard to understand user needs, prioritize the next step, and rally everyone around their roadmap.
Last year, the company partnered with Redmond-based tech giant Microsoft for integration with Microsoft Teams to gather crucial product feedback to build the right products.
The company also launched a new community called Product Makers – a destination for more than 2,200 product makers to deepen their product knowledge and share best practices.
In 2021, Productboard experienced accelerated growth with its customer base. It has offices in San Francisco, Prague and Vancouver.
Dragoneer is a growth-oriented investment firm with over $25 billion in long-term capital. The company’s balance sheet includes public and private investments across all industries and geographies, with a particular focus on technology-focused companies.
“It’s amazing that so many companies invest so much in R&D, but do so without asking themselves, in a data-driven way, ‘what should we actually be building?'” said Christian Jensen, partner at Dragoneer Investment Group.
“Some of our portfolio companies started using Productboard, and the difference was day and night. The world is moving towards customer centricity, and we finally have a data-driven system of record to help product managers and stakeholders across the organization to determine and manage product direction,” he adds.
How Partnering with Salesforce Helped Him Succeed!