Munich-based Workpath has raised €10.5 million in a Series A round. The SaaS platform serves enterprise customers as a central hub for business management and collaboration. The new funding will be used to continue the company’s growth and compound its market position.
Founded in 2017, Workpath began life as an objectives and key results (OKRs) management tool but has since evolved into a full-scope business management and collaboration platform.
The service acts as a central hub, integrating any number of existing data sources and processes from project management, resource planning, and controlling functions, and links goals and metrics, ultimately organising teams around shared outcomes.
Perhaps a better way of saying this is; Workpath brings everyone to the same table and puts them all on the same page.
CEO and co-founder Johannes Müller comments, "We are convinced that in today's hyper-dynamic market environment, companies can no longer organize themselves around traditional reporting lines, optimizing only for resource efficiency. It is more important than ever to continuously create the right outcomes for the customer fast and to create transparency about a clear as well as shared direction for everyone in the company."
Workpath counts Bosch, E.ON, and Ströer amongst its client base, and since its last funding round just over a year ago, has seen a 250% increase in revenues.
The Series A round saw participation from Capnamic Ventures and Iris Capital with existing investors signals Venture Capital and High-Tech Gründerfonds continuing their support.
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