News Column

Tasktop Technologies raises $11 million for growth

June 24, 2014

By Lori Hawkins, Austin American-Statesman



June 24--

Tasktop Technologies, a Vancouver-based software maker that has its U.S. headquarters in Austin, has raised $11 million to expand sales and marketing.

Founded in 2007, Tasktop creates software that automates the software development process and improves collaboration across large companies.

The company received the funding from Austin Ventures and Canadian investment firm Yaletown Venture Partners. It's the first outside investment received by Tasktop.

Tasktop opened its first U.S. office in Austin in 2012 because many of its partners, from IBM to small software startups, have operations here.

"The product manager we work with at IBM is located here, and PlanView, BMC and CA have offices here," said Neelan Choksi, who is Tasktop's chief operating officer and is based in Austin. "Being able to have someone come to your office and have a meeting makes such a difference."

Austin is home to Tasktop's U.S.-based sales and marketing operations while research and development takes place in Vancouver.

The 70-person company has eight employees in Austin and plans to add more as it expands it product management and inside sales teams.

The company has 1,000 customers in financial services, insurance, government and manufacturing industries.

Tasktop will use the funding to continue building out its flagship product, Tasktop Sync, which improves software delivery by allowing collaboration between everyone involved in the process.

"It takes a village now to build software, and we connect the tools that people use to build it," Choksi said. "That process involves everyone from managers with ideas to business analysts who have to convert those ideas to requirements, to developers who have to build it to testers who have to make sure that's what built actually works. We're the glue that unites all those people and tools."

John Thornton, general partner at Austin Ventures, said the company "has put together a top-notch management team, cultivated key partnerships and developed an enterprise-grade product for an under-served market. By helping them expand their sales and marketing operations, we expect to see further acceleration of their growth."

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(c)2014 Austin American-Statesman, Texas

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Source: Austin American-Statesman (TX)


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