In 2017, Malte Scholz, a project manager at a 200-person startup, faced challenges finding a product management tool that suited his needs and those of his teams. Dissatisfied with existing solutions, Scholz made the bold decision to develop his own, laying the foundation for what would become Airfocus.
Impressive Growth Trajectory
Since its inception, Airfocus has amassed approximately 800 customers, including notable names like Caterpillar, The Washington Post, and Orange. With annual recurring revenue in the “single-digit” millions, the company has attracted significant attention from investors. In its latest funding round, Airfocus secured $7.5 million led by Newion, with participation from XAnge, Nauta, Riverside Acceleration Capital, and Picea Capital, bringing its total funding to $15 million.
Unique Value Proposition
Airfocus offers a modular platform equipped with workspaces and templates tailored for product management purposes. Teams can utilize Airfocus to monitor progress, track OKRs (Objectives and Key Results), and create comprehensive product roadmaps that can be consolidated into portfolios. The platform incorporates scoring frameworks to prioritize goals and features a dashboard for consolidating insights from various channels, enabling informed decision-making.
Continuous Innovation
While Airfocus faces competition in the product management software market, Scholz emphasizes the company’s commitment to innovation. With a current valuation in the “double-digit” millions, Airfocus is investing in enterprise features such as team fields, a public API, AI capabilities for feedback processing and user insights, and integrations with popular tools like Miro and Figma. Additionally, Airfocus plans to introduce Airfocus Docs, a new tool aimed at aiding product managers in articulating product strategy and guidance.
Future Outlook
The recent funding will support strategic initiatives, including refining messaging, expanding outbound sales efforts to attract larger clients, and enhancing the enterprise playbook for securing major deals. Airfocus aims to achieve substantial revenue growth while maintaining cost efficiency, solidify its position as a leading end-to-end product management platform, and foster an environment focused on employee satisfaction and performance. With plans to expand its workforce to between 60 and 80 employees by year-end, Airfocus remains committed to its mission of revolutionizing project management software.
