Enterprise software-as-a-service (SaaS) adoption has never been higher. Companies use 16 SaaS apps on average, and 73% say nearly all of their apps will be SaaS by 2020, driving the global industry to an estimated $157 billion in the next year. But coinciding with this climb is a decline in app usage transparency. A recent survey of IT leaders conducted by Numerify found that 45% don’t have a complete picture of key apps and business health services, with 57% saying they lacked an overview of IT performance across projects and employees.
The market’s relative opaqueness motivated Jody Shapiro, formerly head of product management for Google Analytics, to investigate a metrics-driven solution. Unable to find one, he developed his own in Productiv, which today announce the close of $20 million in series B financing led by Norwest Venture Partners, with additional participation from strategic investor Okta Ventures and existing investor Accel. It brings the company’s total raised to nearly $30 million, following an $8 million series A.
Since launching in April 2019, Productiv says it’s signed up clients like Tricentis, Entelo, Cheetah Digital, Equinix, Fox, HashiCorp, Uber, LiveRamp, and Blue Diamond Growers. Additionally, it now counts among its growing employee roster engineers from Slack, eBay, Facebook, and Netskope.
“SaaS has democratized enterprise application purchasing and made everyone a buyer, with multiple teams using multiple applications simultaneously. Redundancy is high and productivity is low, with employees sometimes checking five different tools to access one document. All of this creates unnecessary cost and friction among teams,” said Shapiro. “Productiv’s application engagement analytics address this wide-spread enterprise need, and the combination of today’s funding with our customer traction in the last six months is strong validation of our mission to provide enterprises with the insights they need to drive maximum value from their SaaS applications.”
To this end, Productiv’s cloud-based dashboard integrates with single sign-on tools to track login activity and extract purchase and license data from contracts, finance, and expense reporting systems. It surfaces real-time usage and over 50 different engagement dimensions that can highlight redundant apps, offering an organization-wide view of agreements and expired (or soon-to-expire) software. Configurable rules enable admins to reclaim licenses automatically, and granular logs — including charts that plot the number of engaged users, teams, and locations over time — make it easier to compare stats to industry benchmarks and to determine best practices that might boost productivity.
The endgame is to empower teams to make profit-boosting rightsizing decisions from app analytics, customer and head of IT at Uber Shobhana Ahluwalia says. Rather than determining whether a division has, say, dozens or hundreds Dropbox licenses and how many team members used those licenses in the past fiscal quarter, CIOs can drill down into the productivity impact and estimate the potential cost savings of choosing to cancel, upgrade, or downgrade service.
“Innovation is at the heart of Uber’s culture, and SaaS applications accelerate innovation by providing our employees a seamless collaboration experience no matter where in the world they are located,” said Ahluwalia. “Feature-level visibility into SaaS application engagement gives organizations a complete picture of how employees use applications to do their jobs, enabling them to focus adoption efforts on the applications that drive maximum value.”