Dragoneer, Tiger Global-led funding values Productboard at $1.73 billion

(Reuters) - Dragoneer Investment Group and Tiger Global led a $125 million late-stage funding round in Productboard, valuing the product management software maker at $1.73 billion.

Founded in 2014, San Francisco-based Productboard has raised $262 million so far, as the pandemic-triggered shift to hybrid work ramps up investor interest in companies offering remote productivity services.

It plans to use the fresh capital to hire staff and expand products for its enterprise customers, the company said in a statement on Wednesday.

Productboard's clients include Microsoft Corp, Zoom Video Communications Inc and Salesforce.com Inc. It counts Sequoia Capital, Index Ventures, Bessemer Venture Partners and Kleiner Perkins among its prominent backers.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Devika Syamnath)

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