San Francisco-based product management platform Productboard announced Thursday that it raised $72 million in fresh capital. The Series C round was led by Tiger Global Management.
Productboard helps product managers better understand what their customers need through a number of features on its platform. To start, the platform enables product teams to consolidate customer feedback from multiple sources into a single digital repository. Product leads can also use the platform to identify which features their customers need most and, in turn, standardize their own prioritization framework.
“The best product leaders don’t just lead the product. They lead the entire organization with inspiring product roadmaps that align stakeholders around where the product (and company) are headed next,” Hubert Palan, co-founder and CEO of Productboard, said in a statement.
The company’s roadmap feature enables product teams to work together in real time with a goal to improve cross-functional collaboration.
“Everyone at the company understands the product priorities and their own role in bringing the product vision to life.” Palan continued. “By validating product plans and ideas with customers on a continuous basis, product organizations accelerate product discovery and delivery, all while investing customers in the product roadmap.”
Productboard serves over 4,000 companies including corporate giants like Microsoft and Disney.
“The rapid adoption of Productboard is based on the reality that the companies that understand their customers the most deeply and move quickly to build the best products are the ones who will capture the greatest market share,” Palan said.
Productboard will use the additional capital to enhance its platform, expand globally and hire for its team. The company more than doubled the size of its team over the last 12 months and plans to add more than 100 employees to its ranks by the end of the year.
The platform is now hiring for dozens of in-person and remote roles spanning its sales, engineering and people teams, to name a few.
Productboard has additional offices in Prague and Vancouver. The company has raised $136.7 million in venture capital financing to date, according to Crunchbase.
Additional investors Index Ventures, Kleiner Perkins, Sequoia Capital and Bessemer Venture Partners participated in the round.
