Tasktop racks up $11 mln Series A

Tasktop Technologies has raised $11 million in Series A funding. Austin Ventures led the round with participation from Yaletown Venture Partners. In addition to the funding, John Thornton, general partner at Austin Ventures and Mike Satterfield, partner at Yaletown Venture Partners, have been appointed to Tasktop’s board of directors. Based in Vancouver, British Columbia and Austin, Texas, Tasktop is a provider of ALM integration technology.

PRESS RELEASE

VANCOUVER, BC, June 24, 2014 – Tasktop Technologies, the leader in Software Lifecycle Integration (SLI) and the creators of the Eclipse Mylyn open source tool, today announced that it has closed a Series A round led by Austin Ventures, syndicated with Yaletown Venture Partners. The funding will help the company maximize the reach of its successful software lifecycle integration platform by expanding into new markets.

“We have been focused on building Tasktop Sync into the first platform capable of providing end-to-end DevOps integration. And we’ve been gratified to see such terrific market demand,” stated Mik Kersten, Tasktop Founder and CEO. “After bootstrapping to 70 people over seven years, this investment will accelerate the growth of our customer-facing team to keep up with the market demand, as well as dramatically expand the reach of our integration platform. We’re pleased to have the support of the leading VCs in Austin, home of our US-based sales and marketing operations, and Vancouver, our company headquarters and R&D center.”

Tasktop also announced that John Thornton, General Partner at Austin Ventures, and Mike Satterfield, Partner at Yaletown Venture Partners, have joined the Tasktop board of directors.

“Tasktop’s success to date is not surprising. They’ve put together a top-notch management team, cultivated key partnerships and developed an enterprise-grade product for an under-served market,” said John Thornton, General Partner, Austin Ventures. “By helping them expand their sales and marketing operations, we expect to see further acceleration of their growth.”

“We’re pleased to be investing in another success story born in Canada,” stated Mike Satterfield, Partner at Vancouver-based Yaletown Venture Partners. “Software development is core to modern innovation and uniting the entire software development and delivery team, from business and portfolio analysis, through development and test, and into operations, has become a “must have” for enterprises. This is what Tasktop delivers, and it puts them in the unique position of meeting a pressing need across a diverse range of industries.”
Since the company was founded in 2007, Tasktop has built partnerships with some of the technology industry’s most notable companies, including CA, HP, IBM, and Microsoft. Tasktop’s customers are the global leaders in financial services, insurance, government and manufacturing, and include five of the top 25 banks in the world and three of the top seven US insurance companies. These organizations differentiate their offerings and achieve competitive advantage through the software they build. Tasktop creates an infrastructure that provides excellence in software delivery.

Tasktop Sync, the company’s flagship product, significantly improves software delivery by enabling collaboration across the multiple disciplines involved in the software development process. It provides fully automated enterprise-scale synchronization among some of the most widely adopted Application Lifecycle Management (ALM) tools including Requirements Management, Test Management, Agile Project Management, Project and Portfolio Management (PPM) and Service Desk products.

To learn more, read the latest Tasktop blog by Neelan Choksi, Tasktop COO and President.

About Tasktop
Over one million users employ Tasktop’s ALM integration technology to transform the productivity of software delivery, by connecting the development, testing, Agile planning, PMO and operations functions into a unified software development and delivery team. Tasktop customers are the global leaders in financial services, insurance, government and manufacturing, and include five of the top 25 banks in the world and three of the top seven US insurance companies. Partners, including CA, HP, IBM and Serena, rely on our independent, vendor-neutral role to connect their customers’ software delivery disciplines via OEM distributions of our products. Tasktop has defined the Software Lifecycle Integration (SLI) category to fulfill our mission to “connect the world of software delivery.” For more information about Tasktop and SLI, please visit: http://tasktop.com

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