Also participating is previous backers Kleiner Perkins, Credo Ventures, Rockaway Capital, and Reflex Capital.
It brings total funding for Productboard to $19.7 million, while I understand from sources that the company’s valuation increased three-fold since the A round and is “close to a 9-digit figure”.
Founded in 2014 by Hubert Palan and Daniel Hejl, Productboard has developed a “product management system” to help companies deliver better experiences for customers, faster.
Specifically, the cloud software is designed to bridge the gap between customer feedback and feature requests and a company’s product roadmap, thus doing away with the use of desperate tools such as chat apps, email, spreadsheets and Powerpoint.
“As competition in the digital space heats up, it takes only a couple of years for a great new product to dominate the market, [and] companies realize that their only way of survival is to deliver the right products to market faster than others,” Productboard co-founder and CEO Hubert Palan tells me.
“That is why Product management has been increasingly critical and growing role.