SoftBank Vision Fund 2 leads $75m Series D funding in US-based WorkBoard

Photo: Bloomberg

US-based enterprise results platform WorkBoard has raised $75 million in a Series D funding round led by SoftBank Vision Fund 2, according to an announcement.

Existing backers Andreessen Horowitz, GGV Capital, Workday Ventures, and Microsoft venture fund M12 participated in the round alongside new investors Capital One Ventures and SVB Capital.

The new funding values WorkBoard at $800 million on a post-money basis, TechCrunch reported. The company will use the proceeds for platform development and sales and marketing.

The firm had raised $65 million in its Series C funding round.

Founded in 2014, WorkBoard’s top clients include AstraZeneca, Microsoft, Cisco, Workday, IBM, 3M, VMware, Juniper, Zuora, among others.

“Today organisations globally need a faster, more agile approach to drive their strategies and operating rhythms. We believe WorkBoard’s leading platform helps organisations to define, align and manage strategic outcomes more efficiently,” said SoftBank Investment Advisers managing partner Nagraj Kashyap.

Among its main investments this year, SoftBank Vision Fund 2 invested $160 million in media firm Iyuno-SDI Group, a subsidiary of the Singapore-based I-YUNO Asia Pte Ltd, in April. Earlier, the fund along with Tencent Investment led a $300-million Series E round into Singapore-based innovation intelligence company PatSnap.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.