OREM, Utah – June 3, 2007 — AtTask, Inc., an industry leader in on–demand project and portfolio management software, today announced the completion of $7 million in equity funding from OpenView Venture Partners, a venture capital investment firm based in Boston. The move marks the first outside funding to be obtained by AtTask, Inc., and will be used for global and domestic market development. AtTask, Inc.’s PPM solution, AtTask, is used by enterprises worldwide as well as SMBs. The company’s size has doubled in the last seven months with 2007 revenue thus far quickly surpassing 2006 – which was up 200% from 2005.
“AtTask is an outstanding addition to our portfolio of expansion stage software companies,” said Scott Maxwell, founding partner at OpenView Venture Partners. "AtTask delivers the unique combination of a broad project management feature set with an extremely user–friendly interface – at the right price with exceptional customer support – coupled with explosive and highly profitable growth."
“AtTask is an extraordinarily unique company,” said Scott Johnson, CEO of AtTask. “We have achieved a recognized position of technology leadership with an A–list global customer base without raising a single penny to date. Our partnership with OpenView underscores our solid commitment to provide the industry’s best PPM solutions to the global enterprise. We’re chomping at the bit to take advantage of this opportunity.”
“Our exponential growth, which until now has been organic, is due to the fact that our superior PPM solution makes sense for end–users and executives alike,” said Abe Knell, VP of Sales. “AtTask is poised to become the leading SaaS player in the upcoming months.”
About OpenView Venture Partners
OpenView Venture Partners is an expansion stage venture capital fund with a focus on high–growth software, Internet and technology–enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies with quickly ramping up sales, marketing and product development functions to best practice levels. The firm was founded in 2006 by Scott Maxwell with an inaugural fund encompassing $100 million in committed capital. OpenView Venture Partners is based in Boston and invests on a worldwide basis. For more information visit: www.openviewpartners.com
About AtTask, Inc.
AtTask (www.attask.com) is the leading provider of online project and portfolio management software. Its flagship product, AtTask, places business intelligence tools in the hands of executives and makes team–collaboration accessible to the front line. Its platform independent and multi–lingual solution is increasing efficiency and productivity for Fortune 500 companies across the globe. AtTask's clients include Adobe, CBS, Johnson & Johnson, Chevron, Fujitsu, Hanes, HBO, Hitachi, GE, McDonalds, Toyota, UCLA, and Walt Disney.