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Company News :  Wrike Secures $10 Million Series A from Bain Capital Ventures
on 2013/10/7 7:52:52 (743 reads)
Company News

Wrike has announced a $10 million Series A venture capital investment round from Bain Capital Ventures (BCV), the venture arm of Bain Capital, one of the world's leading alternative asset management firms.

Launched as a self-funded, bootstrapped business, Wrike has pioneered a social project management space and the company now serves over 4,000 customers worldwide on the premium version of its product, from startups to Fortune 1000 companies.

"We deliberately pursued a lean and pragmatic growth strategy to build the best product in the space, one that people would love and use every day," said Andrew Filev, the founder and CEO of Wrike. "It was essential that our new investment partner would be fully aligned with our mission, vision and culture, and we found that in Bain Capital Ventures. Their team immediately embraced our product, space, and the positive disruption that we can bring to enterprise software."

Wrike's recent debut of "Graphite," its signature program's most innovative release to date, is among the most notable events for the company this year. Featuring a new flat design of the user interface and powerful new capabilities for easy and productive work, Wrike Graphite rethinks the efficiency of online project management. The most notable changes and enhancements include a timer broadcasting work status, reshaped project scheduling with dependencies, project infographics, new email notifications with the patterns of the Activity Stream, and HTML5 desktop pop-up notifications.

As part of the $10 million investment, Bain Capital Ventures' Managing Director Todd MacLean and SurveyMonkey's Senior Vice President Tim Maly have joined Wrike's Board of Directors, further underscoring the operational and cultural synergies among the companies.

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