Enterprise

Wrike Raises $10M From Bain Capital for Project Management Tools

Published on October 1, 2013
by Liz Gannes

Founded in 2006, Wrike¬†has 4,000 organizations paying to use its project management software — at a rate of $4 per employee per month. Now, after years of funding itself, the company has taken its first major round of outside money: $10 million from Bain Capital Ventures.

wrike-graphite-perspective[1]That adds to a $1 million round last year from TMT Investments — a way to test the capital market, according to Wrike founder and CEO Andrew Filev.

So, what’s Wrike’s special secret twist? There is none, said Filev. “Collaboration is a well-defined market; there’s not that many things, holistically, that you can invent. When we do something, we try to do it right.”

Bain’s Todd MacLean¬†cited Wrike customers’ “almost cultish devotion” to the product as justification for his investment.

One of Wrike’s standout features — versus many competitors, including Asana, LiquidPlanner and Basecamp — is the way it gives managers an at-a-glance view into everything that’s happening on their teams, according to Filev. The company also just released a new version with flat design and infographics.

Based in San Jose, Calif., Wrike has 70 employees.

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