PALO ALTO, Calif.--(BUSINESS WIRE)--Productiv, the leading enterprise SaaS Management Platform, today announced impressive growth and momentum since launching at Okta’s annual Oktane conference in April 2019. In the last year, the company has raised $28M in funding from Accel, Norwest Venture Partners and Okta Ventures, and added a strong roster of enterprise customers including Fox, Uber, Equinix, Apttus, Okta, Databricks, and HashiCorp.
Productiv’s SaaS Management Platform powered by application engagement analytics surfaces meaningful insights that help enterprises understand how employees engage with software to work and collaborate. By going deeper than analyzing simple login data, Productiv’s analytics more precisely define application engagement (what happens after a user logs in) down to the user- and feature-level. This enables smarter decisions through more efficient renewals and more intelligent license allocations and increases SaaS value with data-driven application adoption.
“By putting all our apps into Productiv, 100 percent of our landscape is now manageable out of the box,” said Praniti Lakhwara, CIO, Apttus. “We had a large six-figure sales productivity tool contract coming up for renewal; Productiv enabled us to look at usage and how different users were using this tool, and it took us seconds to get this data. We ended up saving 30 percent on renewals just last month alone.”
In the past year, enterprise organizations have used Productiv’s SaaS Management Platform to do more with their SaaS applications using application engagement data, including:
- Driving smarter, data-driven renewals and application migrations
- Rationalizing core collaboration applications
- Uncovering meaningful insights to drive application adoption
- Realizing significant time and cost savings
- Measuring the impact and effectiveness of remote work
In addition to further growing its engineering, product, and go-to-market teams at all levels, Productiv added two executive-level hires: Neej Parikh as Head of Sales, and Sadie Stoumen as Head of Product. The company also opened a research and development office in Bengaluru, India, and expanded its existing offices in Palo Alto, San Francisco, and Bellevue, Wash.
“Since day one, our focus has been helping modern CIOs and business technology leaders drive business value from their software investments. We address the market need for engagement-based insights into SaaS applications, and our strong momentum and growing customer base validates our efforts,” said Jody Shapiro, co-founder and CEO, Productiv. “Every company is quickly becoming a technology company, with SaaS applications the connective glue that unlocks productivity and collaboration. IT leaders have an even more critical business role to ensure that every employee has the right applications, with the right license types, at the right times. We’re pleased to offer a solution that opens this application engagement ‘black box,’ helping companies look beyond login data to make the smartest, most data-driven decisions about their SaaS applications.”
In today’s environment, companies of all sizes are experiencing a remote collaboration stress-test due to the millions of employees suddenly working from home. Now more than ever, IT and Finance teams need visibility into which applications are driving productivity, and which need to be rightsized to meet evolving business requirements.
Productiv makes this possible by measuring real-time SaaS application usage and engagement at the feature level. Since the shift to remote work earlier this year, Productiv data has shown dramatic changes in application engagement:
- Sharing video in Zoom has increased 128 percent, while overall Zoom engagement and Zoom meetings have both increased by an average of 55 and 58 percent, respectively;
- Remote collaboration tools, like Slack and Microsoft Teams, have seen an average engagement increase per customer of more than 100 percent, with more people expanding their use of these applications as they work from home.
In November 2019, Productiv announced the close of $20M in Series B financing led by Norwest Venture Partners, with additional participation from strategic investor Okta Ventures and existing investor Accel. Earlier this year, Business Insider named the company one of “47 enterprise startups to bet your career on in 2020” and one of “13 productivity software startups to watch in 2020.”
Resources
- Register for a webinar with Productiv and HashiCorp on how to manage SaaS costs and keep employees productive
- Understand your organization’s current collaboration and productivity with a 30-day free trial of Productiv
- Read the Productiv blog
About Productiv
Productiv is the leading enterprise SaaS Management Platform that provides the full picture on every facet of your SaaS portfolio. Productiv enables smarter renewal decisions, more intelligent license allocations, and stronger application adoption through automated workflows and deep analytics. Backed by Accel, Norwest Venture Partners, and Okta Ventures, and founded by veterans from Amazon, Google, and LinkedIn, we help IT leaders at enterprises like Fox, Uber, Equinix, Okta, and Apttus improve the employee software experience and maximize application value.
