Wrike
| Company type | Private |
|---|---|
| Industry | Project management software |
| Founded | 2006 |
| Founder | Andrew Filev |
| Headquarters | San Jose , United States |
Area served | Worldwide |
Key people | Thomas Scott (CEO) |
| Products | Project management software |
Number of employees | 200 (2015) |
| Parent | Symphony Technology Group |
Wrike, Inc. is a US-based project management application service provider with its main office located in San Jose, California. The company maintains a global presence through offices situated in India, Dallas, Tallinn, Nicosia, Dublin, Tokyo, Melbourne, and Prague.
History
Established in 2006 by entrepreneur Andrew Filev, Wrike originated as a self-financed startup before attracting external investment. While Filev is recognized as the company’s founder, Thomas Scott currently holds the position of CEO. The initial beta version of Wrike’s project management software was released in December 2006, followed by the introduction of an "Enterprise" edition in 2013 aimed at serving larger corporate clients.
In 2015, Wrike inaugurated its European headquarters in Dublin and set up a data center there the following year to adhere to regional privacy laws such as GDPR. That same year marked the release of Wrike for Marketers, a tailored solution designed specifically for marketing departments. To accommodate its expanding operations, the company moved its headquarters from Mountain View to San Jose.
A key element of Wrike’s growth strategy involved strategic acquisitions. In January 2021, Citrix Systems acquired Wrike for $2.25 billion to enhance its hybrid work solutions portfolio, with the deal closing in March 2021. Subsequently, Citrix itself was purchased by Vista Equity Partners and Evergreen Coast Capital for $16.5 billion and merged with TIBCO Software to create Cloud Software Group (CSG). Wrike officially parted ways with Citrix in September 2022.
In July 2023, ownership of Wrike shifted from Vista Equity Partners to Symphony Technology Group, signaling a new chapter in the company’s corporate governance and strategic direction.
Investments
Wrike initially raised $1 million in Angel investment from TMT Investments in 2012. In October 2013, it secured $10 million from Bain Capital. By May 2015, the company completed a $15 million funding round involving investors such as Scale Venture Partners, DCM Ventures, and Bain Capital. At that point, Wrike supported 8,000 customers, employed 200 staff members, and was acquiring approximately 30,000 new users each month.
On November 29, 2018, Vista Equity Partners made a majority investment in Wrike, a private equity firm focused on software and technology-driven enterprises.
Software
Wrike delivers a cloud-based project management platform equipped with features to handle projects, deadlines, schedules, and workflows. The solution facilitates team collaboration and is accessible in various languages including English, French, Spanish, German, Portuguese, Italian, Japanese, and Russian. Additionally, the platform incorporates task automation triggers designed to streamline workflow processes efficiently.
Features
Wrike presents a multi-pane interface that seamlessly combines project management with team collaboration. Its project management capabilities enable teams to monitor deadlines, task dependencies, assignments, resources, and time allocation via interactive Gantt charts, workload views, and customizable sortable tables.
Collaboration is enhanced through features such as simultaneous real-time editing, threaded discussions on individual tasks, attachment and editing of documents with version control. Users receive notifications through inbox messages and browser alerts, which are also accessible on Wrike’s mobile applications for iOS and Android. The "Wrike for Marketers" extension provides tailored tools designed specifically for marketing workflows.
In May 2012, Wrike introduced a freemium model supporting teams of up to five members alongside live text co-editing capabilities. By late 2013, Wrike Enterprise was launched, offering sophisticated analytics targeted at large organizations. Following releases included a customizable spreadsheet tool known as the "Dynamic Platform" in 2014 and personalized workflow options in 2015. The 2016 update for "Wrike for Marketers" brought Adobe Photoshop integration and features for approving creative assets.
Wrike’s dedicated mobile apps incorporate an interactive Gantt chart synchronized across all devices and allow offline functionality with automatic synchronization once connectivity is restored.
Criticism
Users sometimes encounter a steep learning curve due to the platform’s extensive functionalities. Not all subscription tiers include time tracking and scheduling features, and the pricing structure has been noted as somewhat unclear. Wrike currently supports approximately 2,710 clients and holds an estimated market share of 0.04%.
Its primary competitors consist of Google Workspace, Slack (software), and Quip (software).