- Application engagement analytics company Productiv announced it raised $20 million in Series B funding led by Norwest
Productiv — an application engagement analytics company — announced it raised $20 million in Series B funding led by Norwest Venture Partners with additional participation from strategic investor Okta Ventures and existing investor Accel. Including this round, Productiv has raised a total of $28 million in funding since launching.
And Productiv has an approach to SaaS management that gives companies visibility into their SaaS application engagement in order to drive business value from their software investments. And since launching in April 2019 with a commitment to helping enterprises unlock business value with SaaS engagement data, Productiv saw significant business momentum.
Some of Productiv’s enterprise customers include Apttus, LiveRamp, and Blue Diamond Growers. Plus the company built out engineering, sales, marketing, and customer success functions with hires from Slack, eBay, Facebook, and Netskope.
“SaaS has democratized enterprise application purchasing and made everyone a buyer, with multiple teams using multiple applications simultaneously. Redundancy is high and productivity is low, with employees sometimes checking five different tools to access one document. All of this creates unnecessary cost and friction among teams,” said Jody Shapiro, co-founder and CEO of Productiv. “Productiv’s application engagement analytics address this wide-spread enterprise need, and the combination of today’s funding with our customer traction in the last six months is strong validation of our mission to provide enterprises with the insights they need to drive maximum value from their SaaS applications.”
One of the challenges of the wide-scale deployment of SaaS applications, IT organizations lack visibility into applications employees are using and how well it is being used. And the result is that enterprises cannot make effective application portfolio decisions or determine application value thus undermining their overall business productivity.
“The rapid growth of the SaaS industry and escalating enterprise adoption highlights a prime market opportunity for application engagement analytics,” said Rama Sekhar, partner at Norwest Venture Partners. “When there is a substantial gap between the number of provisioned users and the number of engaged users across applications, companies waste money and employees waste time – and that’s bad for business. Productiv offers powerful engagement analytics to help organizations understand how apps are being used after users log in, enabling enterprises to standardize on specific apps and eliminate redundant ones.”
Productiv is transforming SaaS management with application engagement analytics — which surfaces actionable insights that allow enterprises to understand how employees collaborate and drive team productivity.
“Okta is committed to enabling any organization to securely use the technologies that make them more productive and successful. For today’s modern organizations, this means adopting a number of cloud applications that support their digital transformation initiatives, and ultimately make them more efficient,” explained Monty Gray, SVP of Corporate Development at Okta. “Productiv solves a critical challenge for organizations by enabling them to understand the value delivered from each application they deploy and we’re excited to see the benefit they bring to our current and future customers.”
Productiv is transforming SaaS management with application engagement analytics — which surfaces actionable insights that allow enterprises to understand how employees collaborate and drive team productivity. And this SaaS application engagement intelligence enables enterprises to maximize application value in a way that is right for their people, their budget, and their business.
“Innovation is at the heart of Uber’s culture, and SaaS applications accelerate innovation by providing our employees a seamless collaboration experience no matter where in the world they are located,” commented Shobhana (Shobz) Ahluwalia, Head of Information Technology at Uber. “Feature-level visibility into SaaS application engagement gives organizations a complete picture of how employees use applications to do their jobs, enabling them to focus adoption efforts on the applications that drive maximum value.”
Productiv does more than tracking login activity, license data, and renewal notices. The company also showcases real-time application usage and engagement statistics at the team, geography, device, and feature level. From there, CIOs and senior IT staff are able to analyze, drive, and improve adoption of and engagement in the right applications.
“At LiveRamp, SaaS applications enable our employees to move fast and collaborate efficiently, but the ease with which SaaS applications can be purchased or replaced makes evaluating and rationalizing our total SaaS portfolio a challenge,” noted Amit Sharan, Head of Global Business Technology at LiveRamp. “With Productiv engagement analytics, we have a 360-degree view into the apps our people use and feature-level visibility into how they are being used, enabling us to continuously evaluate and rationalize our portfolio and focus adoption efforts on the applications with the most engagement.
Using Productiv’s application engagement analytics, enterprises are able to leverage over 50 application engagement dimensions to view benchmarks for their entire SaaS portfolio in real-time. With this engagement insight, enterprises are able to drive adoption, improve collaboration, and predict future application use.