Wrike is a San Jose-based SaaS collaborative work management platform led by CEO and founder Andrew Filev. The platform enables teams, departments, and whole organizations to plan, manage and collaborate on projects and tasks in real-time. It operates across functions to unify the enterprise in a single digital workplace with features, tools and integrations to automate and complete work at scale. Wrike is used by more than 15,000 companies in 130 countries. The company intends to use new investment proceeds to accelerate global growth and product development. Existing investors, including Filev, Bain Capital Ventures and Scale Venture Partners, will retain significant stakes following the transaction. Wrike provides a configurable work-management and collaboration platform that targets enterprise needs by offering scalable customization. The company reports enterprise revenue growing 20% month-over-month and is adding $1.5 million in new annualized recurring revenue each month. Wrike has 8,000 paying customers and more than 1 million people have used the service. The team currently has about 200 employees and plans to hire roughly 150 more over the next year. Management says it will use capital to fuel enterprise growth and expand internationally, with a particular focus on Europe. Wrike had bootstrapped for seven years prior to its $10 million Series A and reports a nine-digit valuation while not disclosing the exact figure. Wrike provides teams with a real-time platform for collaborating on multiple projects in a single workspace. The company’s core product is social project-management software offered in a premium version. It serves over 4,000 customers worldwide, from startups to Fortune 1000 companies. Led by CEO Andrew Filev, Wrike plans to use new funding to continue expanding the business. The company is actively hiring and has added advisors and board members to support growth. The article notes prior financing activity, including a $1M round from TMT Investments in June 2012. Wrike, founded in 2006, is a project management and collaboration service that aggregates work from across the web and offers integrations with Gmail and Outlook. The company is profitable and used by about 2,000 businesses, including Deloitte, Adobe and EMC. Wrike recently launched a freemium tier for up to five users and reports some customers using it to manage 10,000 folders and 100,000 documents. The team previously bootstrapped the business (founders and then revenue) to stay close to paying customers. Wrike plans to use new capital to make a bigger marketing push in the enterprise market and among developers, expand integrations with other platforms, and launch a new set of mobile apps.

Total raised

$26M

Funding rounds

4

Latest round

Series B

Latest activity

May 2015