LiquidPlanner Closes $8 Million in Series B Funding
Investment From TVC Capital to Accelerate Growth and Enable LiquidPlanner to Penetrate the Burgeoning Enterprise Project Portfolio Management (PPM) Market
SEATTLE, Wash., May 8, 2014-- LiquidPlanner, creators of the industry's only priority-based, predictive project management solution, today announced it has secured $8 million in Series B funding from TVC Capital, a San Diego-based growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. This round of funding marks the first time that LiquidPlanner has accepted venture funding since its founding in 2007. Steven Hamerslag, managing partner of TVC Capital, will join the board of directors for LiquidPlanner. The new financing round will be used to expand sales and marketing initiatives and further invest in its product development, engineering, and operations functions.
"LiquidPlanner has taken a different approach than most other companies in our industry. Instead of raising a large round of funding at the company's inception, we focused on the research and development of a scheduling engine that would dramatically change the way teams manage projects," said Liz Pearce, CEO of LiquidPlanner. "This funding comes at an inflection point for the product and the company, and will help us bring LiquidPlanner's innovative priority-based scheduling approach to a new generation of enterprise customers who need a smarter way to manage resources and priorities across their entire portfolio of projects."
LiquidPlanner's patent-pending methodology enables organizations to more accurately plan projects using best-case and worst-case estimation and priority order (rather than fixed dates) to generate realistic schedules. As priorities shift or new work is added, LiquidPlanner automatically recalculates the schedule, ensuring that all of the resources in the portfolio are dynamically load balanced. LiquidPlanner offers a unified and collaborative online workspace for team members to track times, share documents and seamlessly communicate all of the key project details within the context of their project portfolio. The company has rapidly established themselves as the next-generation of project management and today serves over 2,000 companies in over 60 countries worldwide. Top brands industry wide that have adopted LiquidPlanner include: HTC, LeapFrog, Nordstrom and RingCentral, among others,
"Although the online project management space is a crowded market category, only LiquidPlanner allows teams to manage their plans amidst the realities of shifting priorities," said Steve Hamerslag, managing partner of TVC Capital. "The customers we've spoken with are truly passionate about the LiquidPlanner method and the positive impact it has on their businesses. We are excited to partner with LiquidPlanner and work with them as they enter the enterprise market."
"LiquidPlanner has been a huge benefit to our constantly changing and global business," said Steve Watkins, R&D Engineering at Rotork. "This is a solution that helps increase individual productivity and team collaboration so that our employees are more autonomous, empowered and accountable, which contributes to greater organizational success, not to mention job satisfaction."
LiquidPlanner is the industry's only priority-based, predictive online project management solution that inspires confidence in your plan and your business. LiquidPlanner helps teams conquer project complexity and enable organizations to make strategic business decisions and grow profitability through seamless collaboration and powerful analytics. Thousands of organizations around the world rely on LiquidPlanner to provide robust scheduling capabilities and real-time visibility across their project portfolio. For more information visit: www.liquidplanner.com, and follow us on Facebook and Twitter.
About TVC Capital, LLC:
TVC Capital is a San Diego-based growth equity firm focused on investments in and acquisitions of software companies and software-enabled service firms. TVC Capital targets a wide spectrum of software sectors and industry verticals that are poised for growth and consolidation. The TVC team is led by Steven Hamerslag, Jeb Spencer and Chris Noser, operating executives with more than 60 years of experience growing technology companies into market leaders. TVC Capital portfolio companies included Accordent Technologies and Del Mar Datatrac, and current investments include Limeade, Levels Beyond, Anametrix, ReverseVision, Mercent and Halo BI. For more information, visit www.tvccapital.com.
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