The Israeli designer of work collaboration and project management software received a $35M investment to continue using Clarity and Zen to make work easier
Israeli work collaboration software designer Clarizen on May 21 announced that it closed a $35 million venture funding round led by Goldman Sachs & Co., bringing its total investments to date to $90 million.
All of Clarizen’s previous investors, including Benchmark Capital, Carmel Ventures, DAG Ventures, Opus Capital, and Vintage Investment Partners, participated in the new, Series F round. The funding will be used to to expand Clarizen’s global market share, continue product innovation, support the enterprise market, and to focus on customer success and support.
“Enterprise work collaboration is transforming the way global organizations succeed and Clarizen is leading enterprises into 21st century decision-making and execution,” Avinoam Nowogrodski, CEO of Clarizen said in a statement. “Goldman Sachs has a proven track record funding growing companies that are moving toward an IPO and its partnership underscores the continued momentum of both Clarizen and the enterprise work collaboration space.”
Already with more than 2,000 customers in 76 countries, Clarizen said the investment strengthens its momentum, which has already led the company to nearly 100% quarter-over-quarter growth and the addition of 230 customers, including Electronic Arts, Sony and one of the Big Four audit firms.
Founded in 2006, Clarizen created a work collaboration and project management solution that uses the cloud and a social interface to help users collaborate efficiently. It product, Clarizen v6, will be updated with the new investment.
With offices in San Mateo, Calif., and Hod Hasharon, Israel, Clarizen’s focus is to help companies get their jobs done as easily as possible. The name is a combination of Clarity and Zen, which are the concepts on which it has based its product.
The investment came from Goldman Sach’s Private Capital Investing arm, which provides equity and mezzanine capital to middle market companies. It typically invests between $20 million and $150 million per transaction.