Productboard raises $72M to help software teams plan better
Software product planning platform Productboard is making waves in the tech world as they recently raised $72M in Series C funding. Founded in 2016, Productboard has seen rapid success, creating an all-in-one platform for software teams to plan, prioritise, and manage their product development.
With the financial backing from top investors such as Accel, Bessemer Venture Partners, and G Squared, Productboard is ready to take their success to a new level.
This article will look closer at the funding round and what it means for Productboard and the software development industry.
Software product planning platform Productboard raises $72M
Productboard, a software product planning platform, has announced it has raised $72 million in its Series C funding round led by Bessemer Venture Partners. This brings the total amount of money the Czech Republic-based startup raised to date to over $125 million.
Productboard offers a comprehensive platform that helps product professionals plan better and faster using features such as customer research tracking, roadmap collaboration tools and integrated analytics. In addition, their advanced filtering capabilities enable teams to quickly unify and analyse customer insights from multiple sources, allowing them to build solutions that meet customers’ needs effectively.
The company states that their platform is currently used by companies such as Microsoft, Adobe and Evernote, with hundreds of product managers worldwide contributing more effectively to their organisations’ successes. With this new injection of capital, Productboard plans to strengthen its existing solutions for product planners and launch new products in the future.
Details of the funding round
On October 2, 2020, the Czech Republic-based startup Productboard announced that it had raised $72 million in a Series C funding round. This brings the total funding of the software product planning platform to more than $122 million. The financing round was led by Index Ventures and included investors such as New Enterprise Associates, Matrix Partners and Battery Ventures.
Productboard is focused on creating a product-focused collaboration platform that helps software teams plan better. In addition, the company plans to use the funds to continue refining its user interface and expanding its significantly more powerful enterprise offering. Productboard also plans on expanding its presence in North America and Europe, scaling headcount across various roles globally, further developing its features for professional services teams for remote work, and investing in integrations with other SaaS platforms.
This latest funding round is another chapter in Productboards’ four year rise in what TechCrunch referred to as “one of Europe’s busiest startup scenes”. With these new resources at its disposal, Productboard is well positioned to become one of the leading companies in software product planning.
Benefits of Productboard
Software product planning platform Productboard has recently raised $72M to help software teams plan better. This new influx of funds will help Productboard improve its product and provide more resources to software teams.
In this article, we will look at the various benefits of Productboard and how it can help software teams be more efficient and effective.
Streamlined product planning process
Using Productboard, software teams can manage their product planning streamlined and efficiently. With its user-friendly interface, Productboard helps to coordinate complex workflows and enable quicker decision-making by reducing the number of emails, meetings and other communication needed for product planning.
Productboard includes features such as user story mapping which helps teams better organise their tasks and workflow ensuring all stakeholders are on the same page with timeframes and progress updates. Additionally, it provides a ‘one-stop shop’ for users to access all relevant customer feedback in one place, allowing them to prioritise accordingly to effectively plan their product roadmap.
The platform further allows users to review customer data such as usage statistics which give insights into customer feedback. Teams can pinpoint customer pain points through automated reports and charts while utilising a customisable feature hierarchy ranking system to effectively prioritise features within development cycles. Moreover, it allows remote collaboration so geographically distant developers can ensure tasks are properly executed according to the established product timeline from anywhere.
Improved collaboration between teams
Software product planning platform Productboard has recently raised $72M and strives to help teams work together more effectively. By employing the benefits of Productboard, software teams can dramatically improve collaboration between their team members. With an intuitive toolset, Productboard provides risk reduction, faster decision-making and improved communication.
Productboard’s SaaS platform enables software teams to instantly visualise product strategy, track progress and prioritise initiatives on one centralised timeline. Team members can then move tasks easily to corresponding boards at different stages in the product life cycle – ideation, roadmapping, development & delivery – and view a unified view of each stage for proper priority setting and efficient task delegation & follow up. With its private boards feature, users can also restrict viewing access to internal stakeholders following write/read privileges based on individual access rights levels.
The roadmap management tools offered by Productboard also ensure that all team members are always aware of progress made by simplifying communication cross-functionally while giving them total control over which stages they want their projects in. This allows for more efficient decision making and alignment among various departments such as marketing, operations and engineering – all while ensuring privacy & security compliance. It also provides stakeholders with insights into how product teams work at different stages – ensuring that everyone is in sync – with more peace of mind across the organisation given that changes made by one team are not visible or communicated to other departments due to lack of visibility.
The advantages offered by this software from a collaboration standpoint can be extremely beneficial for any software team looking to improve communication & performance among team members by providing an easy way for them to keep track of collaborations between different departments within their organisation so that everyone remains informed about any changes made throughout the product development processes and can have access information needed when required thus reducing risk and boosting productivity without much hassle.
Comprehensive customer feedback
Productboard, a software product planning platform, has raised $72M in seed funding. This innovative platform is designed to help software teams make the most informed decisions possible by providing comprehensive customer feedback.
Productboard specialises in data-driven discovery. It captures customer feedback and aggregates all associated data points into an easily digestible view of what customers are asking for. This simplifies the process, enabling teams to get clarity on why customers are requesting certain features and how those requests should be prioritised.
On top of this, Productboard provides product teams with real-time insights so they can make more strategic product decisions. For example, with artificial intelligence, it prioritises feature requests based on customer feedback and other related data points (like usage analytics). Productboard’s deep learning algorithms also surface insights about customer trends that many companies would otherwise miss without this technology.
This capability helps teams understand the customer perspective to create better user experiences — all while keeping development costs low and driving faster time-to-market. In short, Productboard enables software teams to create great products with confidence and efficiency.
Impact of the funding
Software product planning platform Productboard recently announced the closure of a $72M Series C funding round. This is a major development for the company, as it is the most ever raised in a Series C for a Czech startup.
This funding round will have a significant impact, not just for Productboard, but for global software teams who can now benefit from the tools and resources this extra funding will provide.
Expansion of the Productboard platform
Productboard, a software product planning platform, just raised $72M in a series C funding round. This substantially expands their customer reach and will allow them to help more software and IT teams develop better products.
With their new funding and the ability to expand their platform capabilities, they can move forward in the customer experience space. Productboard utilises AI-driven decision-making capabilities to enhance their value to help prioritise features and technology stack decisions for software development teams. The new funds will also allow Productboard to add capability such as planning agility, infrastructure governance monitoring services, and an automated feature discovery process based on usage metrics gathered from various sources throughout the development lifecycle.
The newly acquired funds come as no surprise for Productboard – which has been growing at an average rate of 70% YOY since its launch in 2017. With this capital injection, Productboard is poised to become a leader in software product planning. The new ecosystem established by Productboard will support faster time-to-market by focusing on user feedback over predetermined roadmaps, making it easier for product teams to build great products quickly and efficiently while understanding how best to iterate upon existing features and customer requirements as they arise through data metrics driven insights coupled with AI algorithms designed specifically around feature optimization/evolution progression.
Increased resources for customer success
The successful funding round of $72M brings new resources to the software product planning platform, Productboard. With this additional money, they can increase the number of customer success experts on their teams.
This means that customers who have questions or need assistance with their product plans can more quickly receive help with their needs.
The extra capital also gives Productboard opportunities to focus more on research and development. In addition, they can expand their range and quality of services through their product board software planning platform. This is crucial since often customer requests come with a greater complexity than originally anticipated. Productboard’s increased R&D capacity allows them to adequately respond to customer inquiries in time, while continuing to push the boundaries for robustness and scalability when it comes to software product planning solutions.
Also, funding growth will make it easier for Productboard to support their customers’ growth through tailored technical solutions that meet their various needs as they continue taking advantage of technological advances when creating new products or improving existing ones. In a nutshell, this allows them to rapidly iterate and effectively respond in moments of need for users who want maximum flexibility and customization options within their software product plans layout design process. Leveraging further investments from award-winning venture capitalists allows Productboard to flex its superiority, enabling enterprises to better manage the human resources involved in any IT project requirements analysis efforts.
New product developments
Productboard, the software product planning platform, announced that it has raised $72M in a Series C funding round — one of the biggest financing rounds for a European startup this year. This round was led by Tiger Global and brought the total funding up to $110M.
This capital infusion will fuel new product development and accelerate growth across global markets. Specifically, Productboard plans to focus on expanding its AI-driven roadmap recommendation capabilities and its customization features, which help teams design features that best fit their target customers.
Moreover, they intend to use the funds to improve their existing integrations with collaboration platforms like Confluence and Context Flow, leveraging ML algorithms to consolidate user feedback across all channels (e.g., email, surveys, forums) and expand their customer base in different countries around the world.
In addition to streamlining current processes for customers innovating on faster product life cycles with remote teams in play – Productboard can also empower software teams to bring new ideas from concept to life faster than before without compromising quality or taking too much time away from other important emergency tasks.
What’s Next for Productboard
After raising $72M in a Series C round, software product planning platform Productboard is now well-positioned to further its mission of helping software teams plan better. This funding will allow Productboard to invest in its platform and enhance it, aiming to enable software teams to build better products faster.
So, what is Productboard going to do with these new investments? Let’s take a look.
Expansion of the team
With this new round of funding, Productboard plans to expand its team and further develop the platform. In particular, Productboard plans to use this infusion of capital to hire talented teams across engineering, sales, marketing, and customer success. Additionally, they plan to deploy the funds to enhance their product strategy and roadmapping platform with new integrations and enablement products.
Productboard CEO Hubert Palan is confident that in the next few years the software industry will keep growing rapidly, meaning that Productboard’s product planning platform must also continue evolving for teams to stay competitive. As such, he believes that amplifying their team with experts will increase their already stellar ability to provide customers with top-notch support and world-class strategies.
Productboard CFO JaniceLee Chin shared similar enthusiasm: “We’re thrilled that our investors recognize our efforts in delivering an incredible experience for enterprise teams as well as continuing our mission of democratising best practices in product strategy for everyone else”. With strengthened resources from expansion plans, Productboard will rise atop the competitive software industry landscape as a go-to destination for sleek design sprints and other innovative solutions.
Plans for global expansion
Productboard, the Czech Republic-based software product planning platform, has announced that it has raised $72 million in a Series B funding round. The announcement was led by lead investor Index Ventures, with participation from existing investors Kleiner Perkins and Credo Ventures.
The new capital injection will accelerate Productboard’s growth strategies for global expansion, product innovation and international hires. With this new funding, Productboard plans to expand its presence from seven countries to over 50 markets worldwide by 2021. This includes major markets in North America, Europe, Asia Pacific and Latin America. In addition to expanding its customer base worldwide and driving enterprise adoption of its product experience platform, Productboard plans to significantly strengthen their customer success team around the world.
Productboard also intends to use this investment for further product development initiatives that allow enterprises to quickly identify areas of improvement within their customer experience journey and better collaborate on roadmap projects across different roles such as product managers, developers and stakeholders. This will help teams increase alignment on objectives and generate more accurate customer feedback that guides smarter product decisions faster.
Focus on customer success initiatives
Productboard’s recent success in raising $72M has widened their capabilities to include more customer success initiatives. In doing so, they hope to bring richer and more intuitive experiences with their software product planning platform to their customers.
The company plans to use the funds raised to expand existing research and sales activities and hire new team members to develop new features and improve existing ones. Ultimately, these efforts aim to provide customers with the best product planning experience possible.
To provide an even better customer experience, Productboard also incorporates user feedback throughout the development process to tailor its platform to each customer’s needs. This includes gathering feedback from industry-leading companies that have used their platform and conducting regular surveys of customers’ individual experiences with its platform.
These initiatives demonstrate Productboard’s dedication to creating a comprehensive software product planning solution that helps teams build better products faster — helping them stay ahead of the game in an ever-changing market. The company also continues to invest heavily in data privacy and compliance across multiple jurisdictions, demonstrating their commitment to functional and ethical excellence.
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