AtTask wins over students at University Venture Fund

Utah-based AtTask, a workflow management software-as-a-service (SaaS) platform, has closed a series D round worth $38m to expand its market share.

The round, which was led by growth equity firm JMI Equity as a new investor, was also joined by existing backer the University Venture Fund. Started in 2000 at the University of Utah, the University Venture Fund has become the largest student-managed venture capital fund in the US. Other previous backers GreenSpring Associates and Escalate Capital also joined in the series D.

AtTask’s platform is a cloud-based work-management suite which helps businesses centralise and streamline operations with a view to increase productivity. Its clients include firms such as Adobe, Cisco, HBO, Kellogg’s, House of Blues, REI, Trek, Schneider Electric, Tommy Hilfiger, Disney, and ATB Financial.

Eric Morgan, AtTask chief executive, said: “Following record growth in 2013, driven by accelerated adoption by larger enterprise clients, this Series D funding will enable us to expedite our future growth initiatives. We are extremely pleased to have JMI Equity on our team. With its successful track record of building world-class SaaS organizations, JMI will help us capitalise on our market opportunity while expanding our offerings and support for these enterprise clients.”