In 2017, Malte Scholz, a project manager at a 200-person startup, faced challenges in finding a suitable product management tool for his team. This led him to create Airfocus, a platform that has now garnered approximately 800 customers, including prominent names like Caterpillar, The Washington Post, and Orange. With annual recurring revenue in the “single-digit” millions, Airfocus has recently secured a $7.5 million investment led by Newion, with participation from XAnge, Nauta, Riverside Acceleration Capital, and Picea Capital, bringing its total funding to $15 million.
Key Takeaway
Airfocus, a project management software, has raised $7.5 million in funding to further develop its platform, aiming to become a leading end-to-end product management solution.
Revolutionizing Project Management
Airfocus, co-founded by Malte Scholz, Valentin Firak, and Christian Hoffmeister, offers a modular platform with workspaces and templates tailored for product management. The platform enables teams to consolidate product roadmaps and track progress and OKRs in a unified system, addressing the common challenge of aligning execution with strategy.
Competition and Future Plans
While facing competition in the product management software market, Airfocus remains focused on innovation. The company, currently valued in the “double digit” millions, is investing in enterprise features, AI functionality, and integrations with third-party systems. Additionally, Airfocus plans to launch a new tool, Airfocus Docs, and aims to expand its workforce from 46 to 60-80 employees by the year-end, emphasizing development, sales, and customer success teams.