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

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About Indy Guha

Indy is a partner at Bain Capital Ventures and co-founded their Bay Area office. He invests in early and growth stage Software-as-a-Service companies, with a focus on sales and marketing technologies. Current investments include 6Sense, Wrike, BloomReach, Optimizely, etc. He also leads BCV’s Pulse.Commerce program, a custom demo day for Fortune 5000 CMOs. Indy works alongside entrepreneurs on everything from product strategy to acquisitions to hiring, including periodically taking operational roles within our companies. He was an early Product & Engagement Manager at BloomReach, working on key go-to-market issues such as performance attribution and pricing. He was also the interim Head of Marketing at Captora, helping launch the company out of stealth and managing 2 product releases.

Posted on May 6, 2015, in Uncategorized and tagged , , , , . Bookmark the permalink. Leave a comment.

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