K1 Capital to Acquire Clarizen in Management Buy Out
Backed by Goldman Sachs and Benchmark, Clarizen develops and markets an online project management and collaborative work service
For daily updates, subscribe to our newsletter by clicking here.Established in 2006 and headquartered in San Mateo, California, with a research and development center in Israel, Clarizen develops and markets online project management and collaborative work service. The company previously raised $90 million from investors including Goldman Sachs, Benchmark, Israel-based venture capital firm Viola Ventures, Opus Capital and DAG Ventures.
El Segundo, California-headquartered K1 invests mainly in enterprise software companies. Clarizen is K1's second Israeli investment—in December the firm led a $6.5 funding round for automated phishing prevention startup IronScales Ltd.Mr. Chalamish replaced Avinoam Nowogrodski, the company’s founder and longtime CEO in 2016. "I realized that to create significant company growth, the investor configuration also needed to be changed," Mr. Chalamish said. "Some of them have been with the company for 12 years."