SaaS company Clarizen Inc. has raised $12 million in its fifth financing round. Vintage Investment Partners led the round, and was joined by current investors Benchmark Capital, Carmel Ventures, DAG Ventures, and Opus Capital. The company will use the proceeds to finance expansion, strategic partnerships, and product development. The financing brings the amount of capital raised by the company to $48 million.
Clarizen, a developer of project management and social collaboration software solutions, was founded in 2005 and has offices in Hod Hasharon and in San Mateo, California. The company says that it achieved 300% growth in 2011, and is adding 100 new customers a month.
Clarizen CEO Avinoam Nowogrodski said, "Clarizen's vision for today's social workforce reflects our understanding that successful organizations need much more than task management or another way to communicate. The workplace we enable is powerful, because Clarizen helps move information and communications out of silos, gives them structure, and makes this data actionable. This funding comes at an exciting point as we look to accelerate our investment in mobile access and global expansion."
Clarizen has both iPhone and Android apps for real-time task and project management. Its Clarizen Anywhere is a a browser-application and Microsoft Outlook-based toolbar that provides users with immediate access to Clarizen without the need to login.
Published by Globes [online], Israel business news - www.globes-online.com - on June 5, 2012
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