Productiv

Productiv

Spend management platform using AI insights

About Productiv

Simplify's Rating
Why Productiv is rated
B+
Rated A on Competitive Edge
Rated B on Growth Potential
Rated B on Rating Differentiation

Industries

Consulting

Enterprise Software

AI & Machine Learning

Company Size

51-200

Company Stage

Series C

Total Funding

$73M

Headquarters

Palo Alto, California

Founded

2018

Overview

Productiv offers a spend management platform designed for businesses to effectively manage their spending on various tools and services. The platform consolidates data, workflows, and team collaboration into a single source of truth, allowing businesses to make informed decisions about their expenditures. It operates on a subscription-based software-as-a-service (SaaS) model and utilizes artificial intelligence to enhance collaboration and provide insights. Key features include procurement capabilities that streamline the purchasing process while ensuring governance, visibility into asset usage, and automation of actions to achieve desired outcomes. Productiv also assists in managing renewals with smart recommendations and negotiation insights. The platform has demonstrated significant value to clients, with some experiencing a return on investment of 3-4 times, highlighting the importance of data transparency and accessibility in spend management.

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Simplify's Take

What believers are saying

  • Increased demand for SaaS management as businesses use more applications.
  • Strategic partnerships enhance spend visibility and rationalization for optimized SaaS portfolios.
  • Availability in AWS Marketplace facilitates easier access and deployment for businesses.

What critics are saying

  • Emerging competitors with similar AI-driven insights may dilute Productiv's market share.
  • Economic uncertainties may lead to reduced spending on SaaS management solutions.
  • Potential data privacy concerns from extensive data collection and analysis.

What makes Productiv unique

  • Productiv is the only SaaS Intelligence platform focused on employee-centric data.
  • It offers real-time feature-level engagement data for proactive governance and operational velocity.
  • Productiv's AI-powered Sidekick provides domain-specific insights through natural language queries.

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Funding

Total Funding

$73M

Below

Industry Average

Funded Over

3 Rounds

Notable Investors:
Series C funding is usually for startups that are doing well and are looking for more money to fuel major growth, such as acquiring other companies, expanding into global markets, or launching new product lines. Investors typically include larger venture capital firms and private equity.
Series C Funding Comparison
Below Average

Industry standards

$50M
$45M
Productiv
$50M
Medium
$62M
SeatGeek
$100M
Oura

Benefits

Medical, dental and vision insurance, 100% paid for you and your family

401K plan

Free lunches, snacks, and beverages in office

Parental leave

Growth & Insights and Company News

Headcount

6 month growth

1%

1 year growth

1%

2 year growth

6%
VentureBeat
Mar 18th, 2024
Productiv launches Sidekick, an AI-powered assistant for smarter SaaS management

Productiv launches Sidekick, an AI-powered assistant for smarter SaaS management.

VentureBeat
Mar 18th, 2024
Productiv Launches Sidekick, An Ai-Powered Assistant For Smarter Saas Management

Join leaders in Boston on March 27 for an exclusive night of networking, insights, and conversation. Request an invite here. Productiv, a leading SaaS management platform, has announced the launch of Sidekick, an AI-powered chatbot designed to revolutionize how IT leaders and finance teams manage their software licenses, usage data, and budgets. With Sidekick, users can now access critical insights and recommendations through natural language queries, streamlining workflows and saving valuable time.In an interview with VentureBeat, Productiv CEO Jody Shapiro emphasized the unique capabilities of Sidekick. “Many software companies see their AI features as a simple chatbot or medium to answer basic questions without depth or analysis,” he said. “Productiv’s Sidekick was built specifically to be a domain expert that allows users to get answers quickly by asking questions naturally, the same way they would ask a colleague.”Shapiro further explained that Sidekick goes beyond just answering questions

Spend Matters
Aug 31st, 2023
Solving The Procurement Problem: Too Many Tools, Not Enough Data

Procurement professionals and IT leaders tasked with managing software procurement today can often only focus on the top 20% of vendors. Why? It’s a convergence of three main factors: lack of data, limited resources and inefficient tooling.SaaS and vendor management has become increasingly complexProcurement and IT are being inundated with software access, vendor intake and renewal requests. Productiv found that the average business has 371 SaaS apps (up 32% over the past two years) and that 85% of SaaS contracts are one-year agreements (up 6%). That means more apps to manage and more frequent renewals every year. And that’s just SaaS. When you account for other software and services, many businesses are managing relationships with over 700 vendors across various indirect procurement categories.While the workload is increasing, the workforce is not

Google News
Jun 23rd, 2023
Enterprise leaders encouraged to take 'immediate action' of SaaS portfolios

Productiv, the SaaS management specialist, has unveiled its 2023 State of SaaS Series which indicates enterprise leaders in procurement, IT and finance need to take immediate action to rationalise their SaaS portfolios before spending and governance challenges spiral out of control.

PR Newswire
May 3rd, 2023
Docontrol Brings The Power Of Saas Security Workflows To Atlassian Jira Software

Integration enables preventative data access controls to protect sensitive dataNEW YORK, May 3, 2023 /PRNewswire/ -- DoControl , the no-code Software as a Service (SaaS) security company, today announced it has integrated with Atlassian Jira Software to add a foundational layer of preventative controls that protect business-critical data and files within Jira. The integration further secures all shared data and files accessed by every identity, including internal employees, third-party collaborators, and OAuth applications. DoControl's granular data access controls prevent data overexposure and exfiltration, automatically remediating the risk of insider threats and allowing business enablement to be achieved securely.Through the integration with Jira, DoControl users can:Gain visibility and control through near real-time monitoring of every user activity, detecting and responding to immediate threats to protect sensitive data like Personal Identifiable Information (PII).through near real-time monitoring of every user activity, detecting and responding to immediate threats to protect sensitive data like Personal Identifiable Information (PII). Establish secure workflows for specific Jira users, groups, and departments that present higher levels of risk for the organization.for specific Jira users, groups, and departments that present higher levels of risk for the organization. Initiate automated notifications whenever an issue is detected, enabling organizations to take a risk-based approach to securing files within Jira with pre-set policies that distribute specific notifications based on risk profiles.whenever an issue is detected, enabling organizations to take a risk-based approach to securing files within Jira with pre-set policies that distribute specific notifications based on risk profiles. Centrally enforce consistent data access controls throughout Jira and all other critical SaaS applications through a single pane of glass.Recent research found that nearly half (48%) of enterprise tech leaders find too much time is spent manually provisioning and managing apps

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