Prodoscore Announces Growth Investment Led by PSG
Financing aims to facilitate product development and support company growth to meet growing market demand
Prodoscore, a leader in employee visibility and productivity intelligence software, announced today a strategic growth investment led by PSG, a leading growth equity firm partnering with software and technology-enabled services companies to help accelerate their growth.
Founded in 2018, Prodoscore is a data visualization platform that offers a comprehensive solution for business leaders and managers to track productivity across their organizations and better understand employee behaviors that most directly impact overall business performance. The software integrates with cloud-based business applications used by employees, aggregates the data collected and generates a simple “prodoscore,” along with productivity-related metrics and reports, enabling businesses to make smarter employee management decisions, rooted in data.
“We continue to see escalating interest in solutions that help managers quickly understand and enhance employee productivity, as more and more businesses realize the power of data as a driver of company growth,” said Sam Naficy, CEO at Prodoscore. “The investment from PSG validates our long-term strategy, and we are eager to continue our partnership as we scale our business, further enhance our product offering and execute on our growth plan.”
“Remote and hybrid workforces have become the new normal, which means Prodoscore provides solutions that are no longer supplementary, but business-critical,” said Marco Ferrari, Managing Director at PSG. “We look forward to working together with Sam and the Prodoscore team to help the company meet the rising demand for its unique platform and position it for long-term, sustainable growth.”
This funding aims to provide Prodoscore with resources for product development, sales and marketing, supporting its ability to meet growing demand for its offering. The company recently launched two feature enhancements, including an Organizational Network Analysis tool that showcases how employees are connected or siloed across an organization, and a Workplace Productivity component that enables customers to measure in-office vs. remote productivity.
Jeffer Mangels Butler & Mitchell LLP served as legal counsel to Prodoscore, and Latham & Watkins LLP served as legal counsel to PSG.
Prodoscore™ is a company dedicated to empowering teams to be more effective and productive. By providing visibility into employee activities through a single, easy-to-understand productivity score, a “prodoscore” is calculated to improve workforce productivity and streamline the employee experience. Prodoscore works seamlessly with cloud tools like Google Workspace, Office365, CRM systems, and VoIP calling platforms, allowing it to be quickly implemented and maintained. Learn more at prodoscore.com.
PSG is a growth equity firm that partners with software and technology-enabled services companies to help them navigate transformational growth, capitalize on strategic opportunities and build strong teams. Having backed more than 115 companies and facilitated over 420 add-on acquisitions, PSG brings extensive investment experience, deep expertise in software and technology, and a firm commitment to collaborating with management teams. Founded in 2014, PSG operates out of offices in Boston, Kansas City, London, Paris, Madrid and Tel-Aviv. To learn more about PSG, visit www.psgequity.com.