Czech startup productboard raised over CZK 1bn from the Sequoia Capital investment round Series B with the participation of Bessemer Venture Partners and existing investors. Sources say the latest funding puts the company’s valuation at around $350 million.The obtained funds will be directed primarily to building the category of product management system, growth of marketing, sales and probably also to other branches, which startup is now deciding.
As part of its operation, productboard helps product managers in more than 2,500 companies understand the market and respond to customer demand with well-grasped digital products.
The productboard team believes that product management systems will transform business as much as CRMs did in the 2010s. The software aims to be a system of record for product development, where engineers, developers, and designers can not only collaborate and track progress — but also get user insights and ensure the product is developing according to actual user need.
Founded in 2014 by Daniel Hejl and Hubert Palan, two engineers from the Czech Republic, the software startup raised a European seed investment of $1.3 million led by Index Ventures and Credo Ventures. The company later launched at the 2016 TechCrunch’s Disrupt Startup Battlefield in San Francisco. Today productboard has offices in both places, plus Vancouver, and serves 2,500 customers.
Prepared by the team of CzechTrade Jakarta, Indonesia