AtTask Raises $38 Million to Accelerate Growth
Funding Emphasizes Company's Record 2013 Growth, Momentum and Market Leadership
SILICON SLOPES, Utah, February 4, 2014-- AtTask (attask.com), an industry leader in Software-as-a-Service (SaaS) enterprise work management solutions, announced today that it has closed on a growth round of capital, raising a total of $38 million. This financing round will help accelerate AtTask's acquisition of market share and product innovation to deliver more targeted work management solutions for enterprise work teams. The Series D round was led by JMI Equity, a growth equity firm focused on investing in leading software and technology-enabled services companies.
"Following record growth in 2013, driven by accelerated adoption by larger enterprise clients, this Series D funding will enable us to expedite our future growth initiatives," said Eric Morgan, AtTask CEO. "We are extremely pleased to have JMI Equity on our team. With its successful track record of building world-class SaaS organizations, JMI will help us capitalize on our market opportunity while expanding our offerings and support for these enterprise clients."
"We believe that, based on its track record, AtTask is well positioned to continue to solve the challenges that plague enterprise teams today with its Enterprise Work Management solution," said Peter Arrowsmith, General Partner at JMI Equity, who will join the AtTask board of directors. "Our investment in AtTask draws parallels to our experience at Eloqua and ServiceNow where we invested at key points in each company's growth and helped fuel their expansion. We're looking forward to working with Eric and his team to continue AtTask's growth trajectory."
Existing AtTask investors, GreenSpring Associates, Escalate Capital and University Venture Fund, also participated in this round of capital.
AtTask is a cloud-based Enterprise Work Management solution that helps marketing, IT, and other enterprise teams conquer the chaos of excessive email, redundant status meetings, and disconnected tools. Unlike other tools, AtTask Enterprise Work Cloud is a centralized, easy-to-adopt solution for managing and collaborating on all types of work through the entire work lifecycle, which improves team productivity and executive visibility. AtTask is trusted by thousands of global enterprises, like Adobe, Cisco, HBO, Kellogg's, House of Blues, REI, Trek, Schneider Electric, Tommy Hilfiger, Disney, and ATB Financial. To learn more, visit www.AtTask.com or follow us on Twitter @AtTask.
About JMI Equity
JMI Equity is a growth equity firm focused on investing in leading software and technology-enabled services companies. Founded in 1992, JMI has invested in more than 110 businesses in its target markets and has over $2.1 billion of committed capital under management. JMI provides capital for growth, recapitalizations, acquisitions and buyouts. Representative investments include DoubleClick, Eloqua, Halogen, PointClickCare and ServiceNow. For more information on JMI Equity, visit www.jmi.com.
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