Project management co Proggio raises $2m

Project management company Proggio has announced the closing of a $2million investment round led by Mangrove Capital Partners. The fund will enable Proggio to take on traditional Gantt-based tools such as Microsoft Project and Smartsheets.

Proggio utilizes a unique project diagram called "Projectmap," which enables building clear visual timeline with integrated team task management. Proggio shifts the paradigm, focusing on people and on the way project teams intuitively operate together to drive a project to success. The solution was introduced a year ago to the market, and customer interest has put Proggio on an accelerated growth path. The company says it will utilize the funding to further develop its product market fit, accelerate development, and build its acquisition engine.

Proggio cofounder and CEO Yaniv Shor said, "Proggio was born out of the very serious pain points we experienced ourselves as project managers, and was purposefully designed to address the solution gap in the market. We built a collaborative timeline and task management solution for teams, and the feedback has exceeded our expectations. We have seen incredible demand over different market segments and with varied team sizes. Proggio is built to optimize project operation, that allows it to create a positive effort-to-value ratio. This round of funding will help us accelerate our growth, and facilitate additional integrations with other enterprise tools." Mangrove partner Roy Saar said, "Mangrove has been looking into the project and collaboration space over the past 3 years. We choose Proggio for its product market fit and for the domain expertise in project management. Although there are many players in the collaboration space, the pure project management for cross-organization projects has been untouched and has seen no innovation since the launch of MS Project. There have been many solutions introduced since then, but we have found them to be mostly archaic due to their use of traditional Gantt charts."

Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2018