Funding sets the stage for Clarizen’s growth as global demand soars for enterprise collaborative work management software
SAN MATEO, Calif. – January 16, 2018 – Clarizen, the global leader in SaaS-based project portfolio management software, today announced K1 Investment Management’s commitment of over $100 million to support the next phase of Clarizen’s growth.
“We recognize the large market opportunity within the project portfolio management space, and are excited to invest in Clarizen, which has established itself as the leading SaaS-first provider in the market,” says Sujit Banerjee, Managing Director of K1 Operations. “K1 is excited to partner with the management team and is committing over $100 million to accelerate the company’s growth. We will be providing a breadth of operational, financial and business development resources to help scale the business and expand Clarizen’s product roadmap over the long term.”
Clarizen is the leading native SaaS project portfolio management software solution globally, and the premier choice for large enterprise customers that want to enable business agility. Since CEO Boaz Chalamish joined the company two years ago, Clarizen has dramatically increased year-over-year growth by expanding the enterprise customer base, investing in product, streamlining implementation and improving customer satisfaction.
Under Chalamish’s leadership, the company has grown its enterprise customer base to include many of the top global brands. “Our growth strategy and focus on customer satisfaction have helped us exceed our business goals. 2017 was the most successful year in our history. Our growth is proof that large enterprises need new, dynamic ways to manage their projects, people, and businesses, and we are the right partner for them” says Chalamish. “The K1 investment enables us to meet growing market demand, further invest in our product and continue to exceed our customers’ expectations.”
The Clarizen-K1 partnership provides Clarizen with capital, operational support, and the experience that comes with a proven track record of driving enterprise software companies to accelerated success. Together they will continue to drive forward the company’s important next phase of growth.
“K1 was the partner of choice as the company prepares for its next leg of growth,” says Michael Eisenberg, Partner at Benchmark Capital, one of Clarizen’s early investors, “We look forward to K1 and the Clarizen management team taking the business to new heights over the next few years.”
About K1 Investment Management
K1 is an investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Through its affiliate K1 Operations, K1 provides a broad range of transformative and consultative services to our portfolio companies. For more information about K1, please visit www.k1.com.
About Clarizen
Clarizen delivers secure, cloud-based collaborative work management solutions built on the vision of business agility. Clarizen’s PPM solution combines cross-company project management with configurable workflow automation. Discussions, tasks, projects and portfolios are all accessible from Clarizen’s scalable enterprise platform. Internal and external stakeholders both gain easy access to a single source of information to improve work execution, collaborate in-context, optimize resources and respond faster. Clarizen is a leader in Forrester’s Enterprise Collaborative Work Management report and is a two-time Leader in Gartner’s Magic Quadrant for Cloud-Based IT Project and Portfolio Management. To learn more, visit clarizen.com.
