Productboard to open Dublin office after raising $72m

Czech tech company to create more than 100 jobs across its operations this year

Productboard founders Daniel Hejl and Hubert Palan: More than 4,000 companies – including Microsoft, Disney, Zoom, and JCDecaux – use the tech firm’s platform.

Productboard founders Daniel Hejl and Hubert Palan: More than 4,000 companies – including Microsoft, Disney, Zoom, and JCDecaux – use the tech firm’s platform.

 

Productboard, a Czech-founded tech company that has developed a popular product management platform, is to open an office in Dublin after raising $72 million (€59.9 million) in a Series C funding round.

The company said it intended to hire over 100 employees this year following its recent investment but did not specify where exactly the new jobs would be located.

Productboard is already hiring in Dublin as part of plans to establish operations locally. It is also growing its team in Vancouver.

More than 4,000 companies – including Microsoft, Disney, Zoom, and JCDecaux – use the tech firm’s platform, which is intended to help businesses get products to market faster.

The funding round, which was announced on Thursday, was led by New York-headquartered investment firm Tiger Global Management, whose portfolio includes Airbnb, Facebook, Spotify, Peloton, LinkedIn, Uber and Stripe, the online payments company founded by Patrick and John Collison.

Irish companies Flipdish and WorkVivo are also portfolio companies, having recently secured $40 million and $16 million respectively in recent funding rounds led by Tiger.

Investor participation

Existing investors Index Ventures, Kleiner Perkins, Sequoia Capital, and Bessemer Venture Partners, also participated in the latest funding round for Productboard, which has raised more than $130 million since it was founded by Hubert Palan and Daniel Hejl in 2014 in Prague.

“The rapid adoption of Productboard is based on the reality that the companies who understand their customers the most deeply and move quickly to build the best products are the ones who will capture the greatest market share,” said Mr Palan, the company’s chief executive.

“Today’s investment allows us to expand our support for complex enterprises and help even more customers deliver the right products to market the first time,” he added.