3 min read
When we founded Planhat in 2015, Niklas and I agreed we should do this right from the beginning. By “right” we meant be patient and never deviate from the long-term product vision. To take short-term hits for the long-term good. And so we did! We spent just over 6 years bootstrapping the business, focusing on product and building a next generation customer platform where modern companies work across all departments, to make their customers successful. We’ve had a lot of interest from potential investors, almost from day 1, but taking the money and trying to accelerate growth never felt like the right move.
Then, in late 2021, it became clear we were at an inflection point. The notions of customer success and net revenue retention were expanding faster than expected outside the original B2B SaaS space. We were increasingly talking to customers in service industries, healthcare, consulting and other technology-enabled businesses as well. And our existing customers were increasingly asking: “can other teams (product, demand generation, support, sales, professional services) also work in Planhat?” It was clear that growth potential was everywhere.
So while we feel that the years of bootstrapped growth have imprinted very deep and valuable traits into Planhat’s culture, the opportunity we’re going after is too big and exciting not to double down whole-heartedly!
Today, we’re proud and excited to announce that we’ve raised a $50mn Series A, led by the fantastic team at Sprints Capital. The funding will support growth in all its facets. Scaling our commercial teams so we continue to lead the Customer Success Platform category, experimenting and expanding into new application areas, and most importantly continuing to invest in our long-term product and technology vision.
This investment feeds right into our existing momentum. We’ve scaled our global team from 40 to 100+ members in 25+ countries in the last year. We’ve had the opportunity to partner with technology leaders like Rubrik, Redis, Softcat, Consensys, and hundreds more, large and small, but it also somehow feels like we haven’t really got started!
This is a big win for everyone at Planhat. Thank you for all your hard work and contributions to date! But in reality, it doesn’t change much! It’s a small step on a much larger journey. What matters is the same as before. Showing up every day, obsessing about our product, our customers and their goals, being smart about resources and caring about the team members around us. We’re very excited to continue doing what we’ve been doing for the past years - the real Planhat story is yet to be written!
Kaveh & Niklas
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