Since its debut on the TechCrunch Disrupt stage in September 2016, demand for a service like productboard, which provides corporations a holistic view of product growth and encourages enter from throughout a corporation, has solely gotten extra acute, in keeping with firm chief government Hubert Palan.
Now, with an $eight million dedication from Kleiner Perkins Caufield & Byers, with participation from Index Ventures, Credo Ventures, Reflex Capital and Rockaway Capital, alongside a number of angel buyers, the corporate is trying to broaden its gross sales and advertising and product growth efforts to deliver the advantages of its toolkit to extra corporations.
Within the two years since TechCrunch final noticed productboard, the corporate’s consumer base has grown considerably, from 100 clients in 2016 to greater than 1,200 corporations in the present day, spanning a broad vary of industries.
For Palan, the corporate’s rising consumer base (which now consists of medical gadget corporations, tutorial publishers and information organizations along with conventional digital product builders) is proof of a brand new demand out there for extra inputs round product design and growth.
“Every company is now a digital company,” Palan stated. “So every company needs to worry about digital product design.”
The corporate’s toolkit nonetheless consists of options that permit it to vacuum up info from buyer assist tickets, emails, enter from gross sales groups and consumer analysis, to prepare and prioritize options that must be constructed.
However now, the corporate’s companies permit anybody in a corporation (with the right entry) to offer suggestions and observe the method of product growth.
“Product Excellence is no longer optional,” stated Palan in an announcement. “Nowadays rivals come up in a matter of months, not years. Buyer loyalty is declining and customers will fortunately change to a competing answer that provides a greater product expertise. It’s extra crucial than ever to get the proper merchandise to market quicker.”
As a part of the financing, Kleiner Perkins’ new normal accomplice, Ilya Fushman, will be part of the corporate’s board of administrators. Fushman, who was integral in locking down productboard’s seed financing when he was at Index Ventures, has an extended product historical past from his time at Dropbox, and is a welcome addition to the corporate’s board, Palan stated.
Whereas Fushman’s imprimatur is one signal of the corporate’s viability, the funding from strategic angel buyers like Intercom co-founders Eoghan McCabe and Des Traynor; Clark Valberg, the co-founder of InVision; and Larry Gadea, the founding father of Envoy, continues to be one other.
“Product management is a core function in every technology organization, but few dedicated tools exist for it,” stated Fushman, in an announcement.