SOURCE: Clarizen

Clarizen

April 28, 2011 09:30 ET

Clarizen Closes $12M in Growth Funding, Adds Opus Capital's Dan Avida to Board of Directors

Investment Will Fuel Further Global Expansion and Drive Demand for Work Execution Software Beyond Traditional Project Management

HOD HASHARON, ISRAEL--(Marketwire - Apr 28, 2011) - Clarizen, the award-winning provider of work execution software, today announced that it has secured $12M in venture funding led by Opus Capital Ventures. Existing Clarizen investors Benchmark Capital, Carmel Ventures and DAG Ventures joined the round. Dan Avida, General Partner at Opus Capital Ventures, will join Clarizen's board of directors.

Clarizen will use this funding to launch new solutions for Clarizen customers to further improve their work execution, accelerating Clarizen's already rapid growth, while supporting the company's continued global expansion and business development, sales and marketing initiatives. Clarizen is transforming project management software into work execution software that streamlines customers' workflow processes and provides real-time cross-project intelligence that immediately increases profitability. Work and project details for all employees are managed and maintained in one centralized, online location ensuring all tasks are aligned to business objectives. Employees working with Clarizen's platform complete work significantly faster through improved team collaboration and task scheduling and management. Managers have real-time visibility into the work being done within their organization and can mitigate risks and/or plan resources accordingly to improve business process performance.

"Our clients are executing better by connecting informal communication with activities aligned to core business strategies," said Avinoam Nowogrodski, co-founder and CEO of Clarizen. "This new round of investment reflects the confidence of our new and existing investors in the momentum of Clarizen. The investment allows us to reach more organizations who want to execute faster and better -- and transform themselves into real-time enterprises powered by Clarizen."

As demand for visibility, accurate information and real-time data driven decision making increases, thousands of users have turned to Clarizen to help them plan, execute and report on projects large and small. The company has experienced 400 percent year over year growth and more than 1,000 organizations around the world use Clarizen to work smarter, faster and more profitably.

"Clarizen solves the work execution challenges facing knowledge-workers by providing real-time information on their efforts and those of their colleagues, centralizing deliverables and communication and orchestrating their collaboration across projects, teams, organizations and geographies. Clarizen customers, which span many industries, derive immediate benefit from the Clarizen product," said Dan Avida, General Partner, Opus Capital Ventures. "Clarizen is achieving impressive business growth and customer satisfaction by creating the cloud-software solution for enterprises who want to optimize the contributions of their most valuable resources -- their people. Clarizen is at the forefront in the trend toward greater worker autonomy and accountability by providing the solution to manage work execution and corporate decision-making."

In joining Clarizen's board of directors, Mr. Avida will leverage his past experience as an entrepreneur and CEO of fast-growth companies to help Clarizen manage the company's trajectory and expansion. As a General Partner in Opus Capital, Avida has invested in a number of technology companies including Kidaro (acquired by Microsoft), SolarEdge and Wanova.

About Clarizen
Clarizen makes work execution software that powers the modern enterprise by helping employees and companies work better, smarter and faster. Employees can more efficiently manage and complete the highest-value tasks on time and in budget. Companies have direct visibility into how work is accomplished and can course correct and/or plan resources accordingly to maximize results and profits. Clarizen's philosophy of 'robust simplicity' translates into products that model and enhance the way an enterprise works, while its 'user-first' design results in rapid adoption and acceptance across the enterprise.

Founded in 2005, Clarizen is privately held and based in Hod Hasharon, Israel, with U.S. headquarters in San Mateo, Calif. The company is backed by leading venture capital firms Benchmark Capital, Carmel Ventures, DAG Ventures and Opus Venture Capital and has raised more than $36 million in total investment.

Clarizen's customers include UPS, Autodesk, Anritsu, ESRI, Lenovo, and NBC Universal. For more information, visit http://www.clarizen.com.