Tel Aviv, Israel and Salt Lake City, US; April 12, 2022
Proggio, with its next-generation Project Portfolio Management solution, announced a $7M Series A round led by a US-based 2.0 Ventures with participation from both existing investors Mangrove Capital Partners and Cresson Management. The funding will enable Proggio to accelerate its operations and growth in the United States and continue to strengthen its enterprise solution.
Business operations are shifting rapidly due to a massive digital transformation, resource limitations, and post-COVID workplace changes. In this change-driven world, project plans need to be altered regularly to achieve dynamic business goals. With Proggio, customers are able to gain control over multiple sources of digital information, effortlessly build complete visibility into all aspects of their project portfolio, and continually adapt project plans.
“Technologies aimed at helping companies adapt to constant changes and enable scenario analysis became more important than ever in the past few years as the workplace transitioned”, says Benson Metcalf, Founder and Partner at 2.0 Ventures. “Proggio’s project portfolio management solution unlocks this business value and represents a new generation of adaptive project portfolio management solutions. We were especially impressed by the list of high-profile enterprise customers, the level of solution adoption across multiple use cases, and the impact of the solution on customer business. We believe this product has become a fundamental requirement for companies looking to optimize operations in a change-driven world”.
According to Gartner (July 2021, “Market Guide for Adaptive Project Management and Reporting”), on the demand side, “Adaptive Project Management and reporting buyers are realizing that their Project Management and reporting tools and technologies were configured and deployed many years ago for different purposes and do not fit current needs.” Additionally, it is stated that buyers are “interested in finding adaptive PM and reporting solutions that are cost-effective, intuitive, and easy to use, configure and deploy.” Proggio is central to this transformation by providing adaptive project management solutions that are simplified, create project portfolio clarity, and help fast-paced digital businesses drive continuous delivery.
“In the past 2 years Proggio began leveraging its patented technology and has since experienced massive growth; this is evidence that proving project portfolio clarity and simplicity are game-changers for large enterprises,” said Yaniv Shor, CEO and co-founder of Proggio. “Post COVID-19, managers across the globe are forced to deal with frequent changes and understand the implications on resources utilization and delivery targets. This task can’t continue to be done with spreadsheets and presentations. In this business environment, it became clear that the project management domain should line up with other enterprise software applications and enable further digital transformation.”
Using its patented project diagram architecture, called the “Project Map,” Proggio is constantly evolving its solution’s capabilities to optimize the project intake process, risk assessment, prioritization, and business analysis. Proggio offers an open API and natively integrates with Jira, Slack, Teams, and Microsoft and Google application suites.