Wrike: Weaving the Work Cloud
Today Wrike announced a $15MM Series B round led by Scale Venture Partners. Here are some reflections on how the company has grown in the 1.5 years since BCV led the A round.
I met Andrew, the CEO of Wrike, in the summer of 2013. He had already built Wrike into a company with over 4,000 customers and several million in revenue and he had done it with no institutional capital. And he still found time for side projects like robotics competitions.The depth and range of his talent and drive was immediately obvious.
So we backed him at the A round. In addition to the team, our excitement had a lot to do with customer engagement. Here’s the graphic from my blog post after the Series A funding.
Wrike Stats from September 2013
Read the original post here
Fast-forwarding 1.5 years, the fundamental quality of the product – and the resulting customer engagement – has gone from strength to strength. Over 8,000 accounts now use Wrike!
A big part of the growth has been a new enterprise product, which allows Wrike to be one of the few work management solutions that scales for 100+ person teams. It’s allowed us to serve customers like Adobe, Paypal and Sony. And has led to incredible growth in the past year.
BCV has had incredible success backing companies with bottom-up adoption, from LinkedIn to SurveyMonkey to SolarWinds. Rory O’Driscoll and Scale, having invested in companies like Box and DocuSign, also understand the power and momentum of this groundswell of adoption. Along with DCM, we are backing Wrike to become another important pillar in the new work cloud as they ride someincredible tailwinds in enterprise collaboration.
So congrats to Andrew and the Wrike team on another milestone in an amazing journey. We at Bain Capital Ventures are incredibly proud of you for what you’ve already accomplished, and very excited to support you in the journey ahead.
If you want to join this amazing team, please check out Wrike’s careers page
Posted on May 6, 2015, in Uncategorized and tagged Bain Capital Ventures, Collaboration Tools, SaaS, Software-as-a-Service, Work Management Software. Bookmark the permalink. Leave a comment.
Leave a comment