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Tasktop Closes $100 Million in New Funding, Cements Position as the Universal Standard for Value Stream Management
Investment led by Sumeru Equity Partners set to fuel Tasktop s growth and innovation in optimizing software delivery at scale
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VANCOUVER, BC, April 8, 2021 /PRNewswire/
Tasktop, the company creating the universal integration and visualization standard for value stream management (VSM), today announced a strategic investment from Sumeru Equity Partners (SEP), a growth-focused technology investment firm based in the San Francisco Bay Area, to accelerate growth and expand market leadership. Management and existing investors participated in the $100 million investment. As a part of the transaction, existing Tasktop investors will continue as significant shareholders and Jason Babcoke and George Kadifa will join the board of directors.
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Tasktop Technologies Inc said on Thursday it had raised $100 million in a funding round led by technology-focused private equity firm Sumeru Equity Partners.
The company, which makes software-development tools, said existing investors and company management also participated in the round, but did not reveal the valuation at which the funding was raised.
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Tech startups have seen their valuations soar, thanks to a boost in their business from remote working during the COVID-19 pandemic and a simultaneous boom in the stock market that pushed buyout prices in the U.S. to a record high in 2020.
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