Employee productivity has been a main topic of discussion over the 18 months. Are workers more productive at home than they were in the office? Are HR tech tools helping or hindering employee productivity?
By and large, it seems that employees are finding it easier to concentrate and work productively from home, and that while HR tech tools can be a distraction, without them, it would have been impossible for companies to stay afloat and flourish during the pandemic.
Therefore, it is no surprise that SaaS workplace productivity platform ClickUp has raised $400m in a Series C round; it claims this is the biggest Series C in the workplace productivity sector.
This Series C round brings the HR tech company’s total funding to $535 million and its valuation to $4 billion.
The round was led by prolific HR tech investor Andreessen Horowitz and Tiger Global. Lightspeed Venture Partners and Meritech Capital Partners also participated.
Writing in a company blogpost, founder and CEO Zeb Evans wrote: “We are excited that they’ve joined us on this journey to deliver a world-class productivity platform that flexes to the way people want to work.”
Talking about the investment, Andreessen Horowitz general partner David George commented:
“ClickUp is synonymous with the future of work, and we’re thrilled to partner with a company that has shown such a strong commitment to its users and product.
“We look forward to building a more productive world together.”
The Series C follows a highly productive year for ClickUp – it quadrupled its user base to 800,000 globally and now serves customers like Netflix, McDonalds and IBM.
The future for ClickUp
“Just over four years since starting our journey with ClickUp, our mission is just as important now (if not more so with the massive shift to hybrid work) than ever before. Time is our most valuable resource and ClickUp is committed to giving people more time back to focus on what matters to them,” wrote Evans.
So, ClickUp is planning to spend this funding to supercharge its European growth. It will help create 600 jobs in Europe, open a European HQ and development centers.
Further to this, ClickUp will be investing in localized versions of its platform for the French, German and Spanish markets in order to continue to grow its customer base in these countries.
ClickUp’s head of international operations Mark Stoddard added: ““We are already seeing incredible growth across the region, especially in the UK which is our fastest-growing market outside of the US.
“By investing in Europe, we will enhance the experience of our existing customers and attract even more local companies to the productivity gains ClickUp delivers.”
According to Evans, ClickUp is also committed to “hiring a world-class organization to scale up and continue creating a unique and inspiring culture”, as well as continuing to improve “the product, faster by listening directly to our users”.
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