AtTask Picks Up $38M More To Grow Its Enterprise Collaboration Service
Summary
AtTask, a company that vends a collaboration and workflow service for enterprise-level customers, has raised a fresh $38 million in capital, led by JMI Equity. The market dynamic is simple: Companies that are selling subscription cloud services to large enterprises are ensconced in a fast-growth phase and are raising enough outside capital to push their numbers forward. As a product, AtTask sells a service that conforms with a market movement I’m starting to think of as Post Email, in which toolsets are built to help teams collaborate and project manage with a reduced dependency on digital mail. Given its capital history, if AtTask can hit its numbers in 2014, it could be a potential IPO candidate in 2015, though that schedule may be too brief; we have yet to hear raw revenue figures for the firm. Even if it chooses against a quick IPO path, AtTask will have access to capital markets in a year’s time that are quite receptive to firms of its ilk.