AtTask Continues Strong Growth in 2012 46% CAGR since 2007
SILICON SLOPES, Utah, Jan. 23, 2013 /PRNewswire/ -- AtTask (www.attask.com), an industry leader in Software-as-a-Service (SaaS) Enterprise Work Management solutions, continues to outpace the competition and today announced another year of record revenue growth. Year-over-year revenue growth was 38 percent and was fueled by strong expansion and increased renewals from its client base.
The market opportunity before AtTask is significant. According to Gartner Inc.'s Software as a Service, All Regions, 2010-2015, 1H12 Update forecast, enterprise SaaS was predicted to reach $14.5 billion in revenue for 2012 and is predicted to grow to an astounding $22.1 billion by 2015. With the continued trend in the market toward department-based spending on SaaS enterprise software and the desire for greater work visibility, AtTask is uniquely positioned for continued growth and exceptional results.
"Growth and retention in our customer base shows the reliance and value our solution is delivering. The improved work visibility AtTask provides is leading to better productivity and results for our customers," said Eric Morgan, CEO of AtTask. "Our executive team and board are in place, we've strengthened the balance sheet with our Series C raise, and we are aggressively accelerating our leadership position in the Enterprise Work Management space."
The company's exceptional results in 2012 validate the company's overall strategy:
- AtTask has grown its client base with the addition of impressive brands from the Global 2000 and Fortune 500. The company's international client base has grown to 275 clients using AtTask Enterprise Work Management solutions in 65 countries.
- Expansion sales from existing customers grew 62 percent year over year.
- AtTask now has 38 clients each paying more than $100,000 in annual recurring revenue.
- The AtTask Marketing Solutions Group, which formally launched in September 2012, has exceeded expectations by adding more than 20 net new Enterprise Marketing teams. This strong start demonstrates the value that AtTask provides marketing teams and the need for the company's solution.
- In order to execute on the company's strategy, AtTask plans to increase the employee count to 325 in early 2013.
AtTask's market position and strategy has been validated by industry experts. In 2012, AtTask was recognized as a "Leader" in the Gartner 2012 Magic Quadrant for Cloud-Based Project and Portfolio Management (PPM) Services report, and as a "Champion" by Info-Tech Research Group's Mid-Market PPM Vendor Landscape report. AtTask also announced in October that they had closed on a growth round of capital, raising a total of $17 million. Baltimore-based Greenspring Associates led this round.
"Organizations across every industry are looking for ways to improve how they manage the end-to-end work cycle, and for a product that solves the ongoing challenge of visibility and understanding enterprise workers' day-to-day work," Morgan stated. "This opens up an enormous opportunity for AtTask across the market, particularly with our proven track record of meeting our customers' needs."
To learn more about AtTask, visit www.attask.com.
AtTask is the Software-as-a-Service (SaaS) leader for Enterprise Work Management solutions. AtTask provides the work visibility and accountability that enterprise departments lack by enabling knowledge workers to better receive, plan, prioritize, and coordinate their work through projects and collaborative work processes. AtTask provides an easy-to-use solution that improves productivity, social collaboration, recognition, and results. AtTask has a broad range of customers including Global 2000 brands such as Nike, Cisco, ABC, ESPN, 3M, and Trek. Additionally, AtTask was recently recognized as a Leader in the Gartner Inc. 2012 Magic Quadrant for Cloud-Based Project and Portfolio Management (PPM) Services.
Contact: Shelbi Gomez
Contact: Shelbi Gomez