Dragonboat, the fastest growing product portfolio management platform, today announced a $12M Series A round led by New York-based global private equity and venture capital Insight Partners, with participation from existing investors Act One Ventures, Roble Ventures and GingerBread Capital. The round quickly follows the company’s $3M seed announcement in July and 500% growth since January.
Conceptualized and optimized by a team of top talent whose prior experience includes PayPal, BigCommerce, Shutterfly, and Feedzai, Dragonboat’s portfolio platform enables product organizations to dynamically connect customer insights and business objectives with initiatives, build data-driven roadmaps, allocate resources effectively and integrate with engineering tools for execution all in one place. With Dragonboat, companies can now invest in the right product at the right time and ensure all functions know what the teams are building, why and when.
“Dragonboat has fostered an engaged community of product leaders and product ops passionate about an outcome driven portfolio approach to managing products. Insight Partners has an incredible record of helping companies achieve exponential growth and long-term success. We’re excited to partner with some of the best minds in the space to help businesses accelerate market potential by enabling product and operational excellence,” shared Becky Flint, CEO & Founder of Dragonboat.
“Building products requires constant evaluation of the market, customers, and business goals while simultaneously collaborating with all functions to ensure the right product is built, at the right time, to achieve customer and portfolio outcomes,” said Ryan Polk, Operating Partner – Product & Technology at Insight Partners. “Dragonboat is pioneering a new category that’s not just relevant for product management, but for any businesses that are building digital products. We’re excited to partner with the Dragonboat team as they continue to grow.” Ryan will join the Dragonboat board.
With a distributed and autonomous workforce, it’s increasingly difficult for companies to align, coordinate and collaborate across various locations and time zones. Dragonboat is the only platform that enables product teams with top-down alignment, bottom-up innovation and cross-functional collaboration.
“We are growing fast and need the right solution for portfolio management to connect roadmaps with OKRs and run our quarterly planning and tracking. After I evaluated 25 tools, I finally found Dragonboat – the only tool that suits all our use cases and is flexible to fit our ways of working, not forcing us to follow the predefined framework.” Anton Zhvakin, Product Ops at Miro explained, “Finally, we can get rid of tons of tools and formats to keep all our product portfolio data transparent and up-to-date.”
There are 10 million product leaders still using siloed spreadsheets to manage $3 trillion worth of tech resources to drive customer, market, and business results. Dragonboat provides the platform to make decisions that have the highest impact. With the $12M cash infusion, Dragonboat is hiring on all fronts to accelerate growth, product development and its mission of helping all teams best achieve product portfolio outcomes.