Dragoneer Investment Group and Tiger Global led a $125 million late-stage funding spherical in Productboard, valuing the product administration software program maker at $1.73 billion.
Founded in 2014, San Francisco-based Productboard has raised $262 million to date, because the pandemic-triggered shift to hybrid work ramps up investor curiosity in corporations providing distant productiveness companies.
It plans to make use of the recent capital to rent employees and increase merchandise for its enterprise prospects, the corporate stated in an announcement on Wednesday.
Productboard’s shoppers embody Microsoft Corp, Zoom Video Communications Inc and Salesforce.com Inc. It counts Sequoia Capital, Index Ventures, Bessemer Venture Partners and Kleiner Perkins amongst its distinguished backers.
(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Devika Syamnath)
