LeanKit Receives $16 Million In Funding To Meet Growing Demand For A Lean-Based, Value Delivery Platform For Enterprises
NASHVILLE/PRNewswire/ -- LeanKit, a leader in Lean for business and the only enterprise lean-based project and work delivery platform, today announced that they have received a $16 million investment from New York-based private equity and venture capital firm Insight Venture Partners. The growth capital will be used to expand marketing and sales operations globally, as well as to accelerate product innovation.
LeanKit's products and services are used by teams spanning all business functions including IT, software and product development, operations, sales, marketing, HR, legal and finance. Additionally, the product easily scales to meet the needs of large enterprises in a variety of industry verticals. The company is committed to delivering an enterprise solution that harnesses the innate human preference for consuming information visually, supports any workflow methodology or process, and enables an evolutionary approach to change. The value of this approach is evidenced by LeanKit's rapid, widespread user adoption and high level of customer satisfaction.
As Lean continues to transform enterprises across nearly every industry, LeanKit is pioneering the application of Lean management principles across all business functions to help organizations deliver more customer value faster. The company is quickly becoming the dominant lean-based enterprise solution leading to strong revenue CAGR of 118% over the last three years. Recognized as experts in Lean for business, LeanKit serves more than 2,100 customers globally, including companies such as Kimberly-Clark, Rockwell Automation, Xerox, IBM, CarMax, Honda, Target, PayPal, Rolls-Royce, Verizon, Cisco, EMC, Microsoft, Adobe and Siemens.
"As Lean for business gains momentum, LeanKit is poised to help organizations innovate, transform and evolve to harness their unique competitive advantage," said Chris Hefley, co-founder and CEO of LeanKit. "Working with Insight Venture Partners accelerates our ability to scale operations to serve this rapidly growing market. Their deep experience and expertise from working with other high-growth SaaS companies is already proving to be invaluable to us."
"LeanKit fits clearly within our strategy of investing in growing companies serving large global industries with leading technology solutions. We look forward to partnering with their team as they guide the company in its next phase of exponential growth," said Dan May at Insight Venture Partners.
Since LeanKit's founding in 2009, the company has grown to serve more than 50,000 teams around the world. Teams of all types including IT, software and product development, operations, sales, marketing, HR, legal and finance rely on LeanKit every day. Our mission is to help teams actively work together to deliver customer value faster -- building business fitness and strength from within. Learn more at www.leankit.com or follow LeanKit on Twitter @LeanKit.
About Insight Venture Partners
Insight Venture Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight has raised more than $9 billion and invested in more than 200 companies worldwide. Our mission is to find, fund and work successfully with visionary executives providing them with practical, hands-on growth expertise to foster long-term success. For more information on Insight and all of its investments, visit https://www.insightpartners.com or follow us on twitter: @insightpartners.com.