AtTask ( Attask: Com), the industry leader in the Software-As-A-Service (SaaS) project and work management solutions, announced today that it has closed its capital growth round to a total of $17 million. This round was led by the Baltimore-based Greenspring Associates, which has been the current shareholder of AtTask since December 2009. This funding round will help accelerate AtTask’s growth and further strengthen its leadership position in the project and work management spheres.
Greenspring Associates has a proven track record of making direct investments in SaaS, including ExactTarget, Proofpoint, ScanSafe, Vurv, Lithium Technologies, Cvent, Kareo and ChannelAdvisor.
“We believe that AtTask is in a position to exploit inefficiencies in the management of enterprise work, show strong growth and take extensive steps to improve its product and team,” said Jim Lim, Partner of Greenspring Associates. “Our investment with AtTask is parallel to our experience at ExactTarget, where we invested early in the company’s growth cycle and then invested heavily to help fuel the growth of ExactTarget towards an IPO. “That’s right.
In addition to Greenspring Associates (Baltimore, MD), Escalate Capital (Austin, TX), University Venture Fund (Salt Lake City, UT) and Domo founder and CEO Josh James, who was also co-founder and long-time CEO of Omniture, which sold $1 to Adobe. 8 billion; joined with AtTask in this round
“AtTask is another example of how globally competitive technology companies can be built and thrive outside Silicon Valley,” James said. “When I look at the opportunity in front of AtTask, I see similarities with Omniture. I have great confidence that AtTask CEO Eric Morgan and his team will lead this SaaS business to a very successful future. “That’s right.
The proceeds from this capital increase will be used to accelerate the acquisition of market share by expanding the AtTask sales, marketing, development and service teams.
“We have firmly established AtTask as a market leader in SaaS-based project and enterprise work management software and have been able to set up a world-class executive team to focus and deliver on our market opportunities,” said Eric Morgan, CEO of AtTask. “This round of capital growth is another critical step for AtTask, and we look forward to working with the investors who have participated in this round, alongside the current investor, OpenView Venture Partners, to help drive our growth. “That’s right.