Productiv Closes Another Successful Funding Round

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Productiv, the Palo Alto, California based application engagement analytics startup, announced it has closed its latest funding round.

The Series B financing round comes to $20 million and is led by Norwest Venture Partners with participation from Accel and Okta Ventures. Productiv has already raised $28 million since its April 2019 launch with this latest round.

Productiv’s Software-as-a-Service management platform gives companies visibility to their SaaS application engagement in order to drive business value from their software arsenal. The company’s enterprise customer roster includes LiveRamp, Blue Diamond Growers, Fox Corp. and Apttus.

“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 Productiv co-founder and CEO Jody Shapiro, co-founder and CEO of Productiv in the company’s blog post. “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.”