ActivTrak Raises $50 Million in Series B Funding Led by Sapphire Ventures
ActivTrak, Inc., a leader in workforce analytics and productivity management software, today announced $50 million in Series B funding to scale go-to-market activities in sales, marketing, and channels, and expand platform capabilities using AI-driven analytics to help companies better understand and optimize how digital work gets done.
Sapphire Ventures led the round with Elsewhere Partners participating, bringing ActivTrak’s total funding to-date to $77.5 million. The company has quickly become an emerging leader in digital workplace technology recognized by top IT industry analysts, product reviewers, and media.
“The move toward remote work has triggered companies to rethink how they measure and analyze employee productivity in today’s digital workplace,” said Nino Marakovic, CEO and Managing Director at Sapphire Ventures, who will join ActivTrak’s board of directors. “We’re excited to welcome ActivTrak to our portfolio, and to partner with CEO Rita Selvaggi and the team on their mission to improve the way employees, teams and companies work.”
Since March 2019, ActivTrak has grown more than 200 percent led by a seasoned team of software industry experts with a proven track record in scaling high-velocity SaaS businesses. The company now has more than 8,000 customers and over 250,000 users, and recently launched the ActivTrak Workforce Productivity Lab, a global center for research and expertise that helps companies embrace and embody the future of work.
“Our goal is to bring context to digital work data, providing productivity insights that help companies identify work patterns, set benchmarks, and optimize and sustain outcomes for ongoing success,” said Rita Selvaggi, CEO of ActivTrak. “Sapphire Ventures has a deep track record of investing in next-generation technology companies that leverage the power of analytics to change how people live and work. I’m thrilled to join their portfolio of companies as we continue to grow and capitalize on opportunities in this space.”
ActivTrak’s highly scalable cloud-native SaaS platform collects real-time work activity data about people, processes, and technology, giving companies a more complete picture of workplace operations. The award-winning solution offers rapid deployment, ease of use, immediate insights, and low cost of ownership that bring the power of enterprise technology to organizations of all sizes.
With this latest round of funding, ActivTrak will invest in product innovation to deliver tools for better decision-making, workload distribution, and employee engagement. This will include expanded integrations with third-party data sources and technology partners; enhanced machine learning and AI recommendations and workflows; and increased automation that eliminates manual work and increases business velocity.
ActivTrak will also continue to scale the company’s global sales and marketing programs, and expand relationships with value-added resellers, global distributors, and managed service providers to ensure the success of companies in the modern, digital workplace.