Wrike Raises $15M in Series B

What does Wrike do?

Wrike, is a work management platform for high performance teams. It combines project management with real time workspace for discussion, collaboration and sharing documents. It is the leading project management tool and cloud software for high performance team collaboration. It provides social project management and collaboration software which aids distributed teams and co-located teams to get things done in real time.

Its cloud based solution combines project management functionality, task management functionality, friendly collaboration features and helpful integrations with tools, document management tools, email etc. It allows the users in managing unlimited number of projects and tasks in a single workspace.

How much Wrike was funded?

Wrike raised $15M in Series B round on May 6^th, 2015 from Bain Capital Ventures, Scale Venture Partners and DCM Ventures.

Previous funding

• $1M in Series A funding on June 13, 2012 from TMT Investments.
• $10M in Series A funding on October 1, 2013 from Bain Capital Ventures.

What is next for Wrike?

Wrike is going to use the funding for expanding the development of its platform after its explosive growth of its enterprise product. Its revenue is currently growing 20% month by month and the firm is adding $1.5 M in new annual recurring revenue monthly. It currently has 8,000 customers paying and more than 1 M people using its services.

Its latest addition of customization options has enabled it to gain additional traction in the enterprise world, where it is typically a hassle of adding personalized features to services such as Wrike.

More about Wrike

Wrike was founded on January 1^st, 2006 by Andrew Filev. It has its headquarters in Mountain View, CA.
it has created a platform which is addressing the complex needs of the enterprise. It is lightweight and simple for users in easily adopting, yet scalable and powerful enough in managing a team of 500 personnel across myriads of departments and tasks.