Investment will fuel further global expansion and drive demand for work execution software beyond traditional project management
Hod Hasharon, Israel. April 28, 2011 – Clarizen, the award-winning provider of work execution software today announced that it has secured $12M in venture funding led by Opus Capital Ventures. Existing Clarizen investors, Benchmark Capital, Carmel Ventures and DAG Ventures joined the round. Dan Avida, General Partner at Opus Capital Ventures will join Clarizen’s board of directors.
Clarizen will use this funding to launch new solutions for Clarizen customers to further improve their work execution, accelerating Clarizen’s already rapid growth, while supporting the company’s continued global expansion and business development, sales and marketing initiatives. Clarizen is transforming project management software into work execution software that streamlines customers’ workflow processes and provides real-time cross-project intelligence that immediately increases profitability. Work and project details for all employees are managed and maintained in one centralized, online location ensuring all tasks are aligned to business objectives. Employees working with Clarizen’s platform complete work significantly faster through improved team collaboration and task scheduling and management. Managers have real-time visibility into the work being done within their organization and can mitigate risks and/or plan resources accordingly to improve business process performance.
“Our clients are executing better by connecting informal communication with activities aligned to core business strategies,” said Avinoam Nowogrodski, co-founder and CEO of Clarizen. “This new round of investment reflects the confidence of our new and existing investors in the momentum of Clarizen. The investment allows us to reach more organizations who want to execute faster and better – and transform themselves into real-time enterprises powered by Clarizen.”
As demand for visibility, accurate information and real-time data driven decision making increases, thousands of users have turned to Clarizen to help them plan, execute and report on projects large and small. The company has experienced 400 percent year over year growth and more than 1,000 organizations around the world use Clarizen to work smarter, faster and more profitably.
“Clarizen solves the work execution challenges facing knowledge-workers by providing real-time information on their efforts and those of their colleagues, centralizing deliverables and communication and orchestrating their collaboration across projects, teams, organizations and geographies. Clarizen customers, which span many industries, derive immediate benefit from the Clarizen product.,” said Dan Avida, General Partner, Opus Capital Ventures. “Clarizen is achieving impressive business growth and customer satisfaction by creating the cloud-software solution for enterprises who want to optimize the contributions of their most valuable resources – their people. Clarizen “at the forefront in the trend toward greater worker autonomy and accountability by providing the solution to manage work execution and corporate decision-making.”
In joining Clarizen’s board of directors, Mr. Avida will leverage his past experience as an entrepreneur and CEO of fast-growth companies to help Clarizen manage the company’s trajectory and expansion. As a General Partner in Opus Capital, Avida has invested in a number of technology companies including Kidaro (acquired by Microsoft), SolarEdge and Wanova.
Clarizen is a collaborative work management solution designed for people who value their time, and for organizations that value cross-company engagement. Built on a secure, scalable platform, Clarizen brings together project management, configurable workflow automation and in-context collaboration to create a meaningful engagement experience that allows everyone to work the way they work best. Everyone involved can track projects, communicate effortlessly and participate on their terms. When employees can connect to a larger and more meaningful purpose, progress is not only clear, it’s accelerated. Organizations of all sizes, across 79 countries already rely on Clarizen to help engage their people and move their business forward. The company is privately held with office locations including San Mateo (California), Tel Aviv and London.