Pingboard Raises New $5M In Seed Funding
AUSTIN, Texas (PRWEB) May 31, 2018 -- Pingboard, the org chart with superpowers, today announced a new $5 million dollar round of seed funding. The round was led by Active Capital; with this financing, Pat Condon joins Pingboard’s Board of Directors. Participants in the round include Pingboard founder and CEO Bill Boebel, Silverton Partners, and Capital Factory.
Pingboard has raised $7.5 million in total venture funding. This new round follows a previously-announced $2.5 million dollar seed round led by Silverton Partners in 2014, and highlights Pingboard’s growth to than 1,000 customers in 39 countries. Those customers include Demandbase, POPSUGAR, Khan Academy, Charlotte International Airport, Sequoia Capital, Purple, American Underground, Udemy, Silvercar, WP Engine, and GoFundMe.
“We’re very grateful to raise this seed round in a way that aligns with the values and operational model of our company,” said Bill Boebel, founder and CEO of Pingboard. “Active Capital is the perfect partner for us because of their founder and operator backgrounds, focus on B2B SaaS companies at the seed stage, and commitment to more agile modes of funding and governance that reflect how SaaS startups are built today.”
The org chart has not kept pace with the quickening speed and complexity of modern business. Today, companies are increasingly cross-functional and networked in structure, rather than vertically-oriented. Modern teams form and reform on the fly. Talent and responsibility are spread across multiple projects and geographies. Yet at these same companies, vital information about who does what and why is seldom available when colleagues need it most. Maintaining an org chart is a manual, cumbersome task.
“The corporate organization chart was invented over 150 years ago,” added Boebel. “Daniel McCallum was Erie Railroad Company’s general manager, and his first effort in 1855 was not just a management breakthrough, but ‘a masterpiece of data design’ according to McKinsey and Wired. We’re modernizing the org chart and returning it to glory.”
Pingboard allows companies to create a visually stunning, live org chart in minutes, and keep the chart up-to-date automatically by integrating with their existing HR system. Executives can collaborate with others to develop hiring plans in lockstep with their business, while empowering teams with live information like never before.
“I believe every dynamic business needs Pingboard,” said Pat Matthews, founder and general partner at Active Capital. “Whether they’re growing fast or already large, these businesses are constantly changing, re-organizing and planning for the future. The org chart is how businesses visualize themselves and there is nobody more focused on live org chart software than Pingboard.”
Since the debut of the live org chart, Pingboard customers have created over 11,000 org charts and implemented them across their organizations.
“Today’s most effective organizations need a new kind of org chart that is multidimensional, dynamic, and collaborative,” emphasized Boebel. ”Pingboard is that tool.”
For more information, or to get a same-day demo, please visit https://pingboard.com
About Pingboard
Pingboard is the live org chart software that makes it easy to organize teams, plan for growth, and keep everyone informed.
The most effective organizations in the world need a new kind of org chart that is multidimensional, dynamic, and thoroughly collaborative. With a mission is to revolutionize people planning, PIngboard creates software that reimagines how hiring, career path design and organizational modeling get done.
Today, Pingboard powers nearly 11,000 org charts at more than 1,000 companies in 39 counties, including Demandbase, POPSUGAR, Khan Academy, Charlotte International Airport, Sequoia Capital, Purple, American Underground, Udemy, Silvercar, WP Engine, and GoFundMe.
Based in Austin, TX, the company was founded in 2013 by Bill Boebel and Rob Eanes, and was incubated at Capital Factory.
To learn more about Pingboard, visit: http://www.pingboard.com
Pingboard. The Live Org Chart™
About Active Capital
Active Capital is a venture firm focused on leading seed rounds for founder-led, B2B SaaS companies. Based in San Antonio, the firm was founded in 2016 by Pat Matthews, the founder and CEO of Webmail.us, which was acquired by Rackspace in 2007.
To learn more about Active Capital, visit: http://www.activecapital.com
Active Capital. Founders wanted.
Doug Freeman, Jones-Dilworth, Inc, +1 (512) 826-7674, [email protected]
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