Chris PacittiFounder and Partner
ActivTrak Raises Series B to Fuel Growth
Remote Work and the Digital Transformation of the Workplace
When we acquired ActivTrak in March 2019, we cited the emergence of the distributed workforce movement. Twenty months later, in large part due to a pandemic that upended how work gets done, that emerging trend has become the status quo.
Now, more than 40% of the US labor force is working from home full-time. While we have yet to establish what returning to the office will look like long-term, what is clear is that remote work is here to stay and companies have no choice but to rethink how they engage with, manage, and foster growth across their teams.
As companies of all sizes determine what the "future of work" will look like for their organizations, technology has become critical to both maintaining and improving employee productivity. ActivTrak brings context to digital work data and provides productivity insights that help companies identify work patterns, set benchmarks, and optimize and sustain outcomes for ongoing success.
Led by Elsewhere operating advisors Rita Selvaggi as CEO, Mike Bennett as Executive Chair, Justin Endres as CRO, Shanel Vandergriff as CMO, and Heidi Farris as Head of Operations, ActivTrak has grown more than 200% since March 2019 and now boasts more than 8,000 customers and over 250,000 users.
ActivTrak Raises $50 Million Series B Funding Led by Sapphire Ventures
ActivTrak has quickly become an emerging leader in digital workplace software as recognized by top IT industry analysts, product reviewers, media, and end users. The $50 Million Series B funding will be used to scale go-to-market activities in sales, marketing, and channels, and expand platform capabilities using AI-driven analytics to help companies better understand and optimize how digital work gets done.
Sapphire Ventures has an impressive track record of investing in next-generation technology companies that leverage the power of analytics to change how people live and work. Investments in new ActivTrak product features will include tools for better decision-making, workload distribution and employee engagement, as well as increased automation that eliminates manual work and increases business velocity.
Please read more about ActivTrak here (press release).
About the Author
Chris Pacitti
Chris has 25 years of experience as an investor and passionate partner to software entrepreneurs. He founded Elsewhere Partners after identifying a tremendous unmet opportunity to invest and scale software companies that don’t fit the traditional VC model. Chris spent nearly two-decades at Austin Ventures, where he co-led technology investing.