Irvine, California-based Mavenlink, an integrated business management solutions company, has announced that it has raised $19 million in funding led by Carrick Capital Partners and Silicon Valley Bank. Mavenlink will be using the funding to accelerate its product innovation and market share expansion.
“Since our initial investment in 2013, Ray Grainger and his team at Mavenlink have consistently exceeded Carrick’s high expectations,” said Carrick Capital Partners co-founder and managing director Jim Madden. “The company has achieved explosive growth, adding larger, sophisticated clients while continuing to earn the loyalty of their existing client base.”
Mavenlink’s enterprise-class Software as a Service (SaaS) transforms how businesses work with distributed teams, contractors, and clients. And its technology suite enables organizations of any size to manage and scale employees, projects, revenue and profitability. And Mavenlink saw 3x growth in sales and personnel in the last year.
“Mavenlink’s pace of growth and world-class product innovation are enabling business to compete more effectively in this networked economy,” added Mavenlink founder and CEO Ray Grainger. “We bring the expertise required to provide customers with a best-in-class solution to profitably manage their businesses.”
