Wrike Acquisition, Valuation, Funding & Investors

Wrike was acquired by Symphony Technology Group in July 2023.

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Wrike acquisition price

Undisclosed

Acquired by Symphony Technology Group · Jul 2023

Cumulative funding Wrike raised

$25M

across 2 funding rounds

Key investors in Wrike

  • Bain Capital Ventures
  • DCM Ventures
  • Scale Venture Partners

Wrike Overview

About Wrike

Wrike is a San Jose-headquartered provider of cloud-based work management software. The platform supports complex workflows for marketing, product, engineering, and professional services teams with features like customizable dashboards, Gantt charts, request forms, and real-time collaboration. Wrike integrates with tools such as Salesforce, Jira, and Google Workspace, serving enterprises including Siemens, Walmart, and Google. Its proofing and approval tools streamline creative reviews, while analytics track project performance across departments.


Founded

2006

HQ

United StatesSan Jose, CA

Website

wrike.com

Status

Acquired

Customer focus

B2B

Revenue model

Subscription

Wrike Acquisition

Wrike was acquired by Symphony Technology Group for an undisclosed price on 7 July 2023.

Before the acquisition Wrike had raised $25M across 2 funding rounds.

Wrike, a collaborative work management platform based in San Diego, Calif., completed its recapitalization and ownership transition to Symphony Technology Group (STG), a private equity firm specializing in software, data, and analytics, on July 7, 2023. Vista Equity Partners and Elliott Investment Management L.P. transferred full ownership of Wrike to STG, reestablishing Wrike as a private company. Lazard served as exclusive financial adviser to Wrike, with Kirkland & Ellis LLP as legal counsel, while Paul Hastings LLP advised STG. Simultaneous with the transaction, Wrike Founder and CEO Andrew Filev transitioned to Board Advisor, and CFO Thomas Scott became Interim CEO, later permanent. STG aims to support Wrike's growth in its intelligent work management platform amid demands for efficiency and productivity. Silver Point Capital provided acquisition financing via a senior secured credit facility. The deal followed Wrike's prior ownership by Citrix, spun out to Vista and Elliott less than two years prior, marking the third ownership change in three years and emphasizing a need to restore stability and momentum.

Wrike acquisition details
AcquirerDateType
  • Symphony Technology Group
7 Jul 2023PE buyout

Wrike Funding History

Wrike has raised a total of $25M across 2 funding rounds.

Wrike's first fundraising round was a $10M Series A in October 2013. The most recent completed round was a $15M Series B in May 2015.

Wrike funding rounds

Wrike funding rounds
DateStageInvestorsRaisedDeal Summary
May 2015Series BScale Venture Partners (lead); Bain Capital Ventures; DCM Ventures$15MWrike is a work management and collaboration platform for high-performance teams, bridging the gap between overly complex enterprise IT solutions and simple tools that do not scale, with a focus on scalable customization for enterprise needs. The company launched its enterprise offering in 2013, driving explosive growth with over 8,000 paying customers and more than 1 million users at the time of the funding announcement. Enterprise revenues grew at 20% month-over-month, adding over $1.5 million in new annualized recurring revenue every month. Wrike raised a $15 million Series B round on May 6, 2015, led by Scale Venture Partners, with participation from DCM Ventures and prior investor Bain Capital Ventures. ScaleVP Partner Rory O’Driscoll joined the board. The company, then at 200 employees with $6 million cash on hand from its prior $10 million Series A, took the funding opportunistically amid favorable markets to accelerate enterprise growth, platform development, international expansion especially in Europe, and hiring 150 more employees over the next 12-18 months.
Oct 2013Series ABain Capital Ventures (lead)$10MWrike, a project management SaaS platform, raised $10 million in Series A funding from Bain Capital Ventures in 2013. The company, founded seven years prior, had been bootstrapped to approximately 4,000 customers, including clients like Beats and Ecco. This funding marked a shift to scale the business for broader accessibility, including platform development for third-party apps, mobile enhancements, enterprise features, and global expansion. At the time, Wrike positioned itself as an early market leader in work management, competing with Asana and Atlassian. The investment supported ambitions to reach 5 million businesses within five years by addressing diverse project needs from individuals to large teams.

Who has invested in Wrike?

3 investors have backed Wrike across its funding rounds, including Bain Capital Ventures, DCM Ventures and Scale Venture Partners.

Lead investors include Scale Venture Partners and Bain Capital Ventures.


Wrike Investors

Investors in Wrike by funding rounds participated
InvestorHQRoundsRoleFirst check
Bain Capital VenturesUnited StatesSan Francisco, CA2LeadOct 2013

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Acquisitions by Wrike

Wrike has acquired 1 company to date.

Last acquisition by Wrike was on December 10th 2024. Wrike acquired Klaxoon for undisclosed valuation.


Latest Acquisitions by Wrike

Klaxoon
Description
Klaxoon is a Nantes-headquartered visual collaboration platform founded in 2015. The SaaS tool enhances hybrid meetings, trainings, and workshops with interactive quizzes, polls, word clouds, and networked notes accessible via web, iOS, Android, and Microsoft Teams. Klaxoon serves 10,000 organizations worldwide including Airbus, Danone, and Renault, with features for real-time engagement and content reuse.
HQ CountryFrance
HQ City
Rennes
Deal Date10 Dec 2024
Valuationundisclosed
EV/Revenue
EV/EBITDA

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Wrike Competitors

Wrike competitors include listed companies like Calix and Asana, and private ones like Mural, Podium, Intercom and Teamworks.

Public and private companies comparable to Wrike
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
MuralUnited StatesSan Francisco, CAPrivate$125M-$2B16.0x
PodiumUnited StatesSalt Lake City, UTPrivate$100M-$3B30.0x
IntercomUnited StatesSan Francisco, CAPrivate$400M-$1.3B3.2x
TeamworksUnited StatesDurham, NCPrivate--$1.2B-
CalixUnited StatesUnited StatesPublicly listed$1B$38M$2.2B1.8x
AsanaUnited StatesUnited StatesPublicly listed$791M($175M)$2.3B2.7x

Wrike Public Comps

Wrike is no longer listed, but its public comps include Calix, Asana, Five9, SoundHound, Intapp, AvePoint, Weaver Network, Bandwidth, Teamviewer and Sinch.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Calix$1B$38M2.0x1.8x52.9x13.6x
Asana$791M($175M)2.8x2.7x(12.8x)22.8x
Five9$1.1B$91M2.4x2.2x30.1x9.1x
SoundHound$169M$19M14.6x11.3x132.5x(35.5x)
Intapp$578M($16M)4.6x4.5x(164.3x)20.9x
AvePoint$419M$42M5.9x5.1x58.4x27.4x
Weaver Network$341M$43M4.4x4.2x34.6x28.3x
Bandwidth$754M$39M2.7x2.3x51.2x17.3x

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Common questions about Wrike

When was Wrike founded?Wrike was founded in 2006.
Where is Wrike headquartered?Wrike is headquartered in San Jose, CA, United States.
Is Wrike publicly listed?No, Wrike was acquired by Symphony Technology Group in July 2023.
Who acquired Wrike?Wrike was acquired by Symphony Technology Group in July 2023.
How much funding has Wrike raised?Wrike has raised $25M across 2 funding rounds.
What was Wrike's last funding round?Wrike's last funding round was a $15M Series B in May 2015, led by Scale Venture Partners.
Who are Wrike's investors?Wrike's investors include Bain Capital Ventures, Scale Venture Partners and DCM Ventures.
Which companies are comparable to Wrike?Companies comparable to Wrike include Mural, Podium, Intercom, Teamworks, Calix and Asana.
How many companies has Wrike acquired?Wrike has acquired 1 company, including Klaxoon.

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