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ProjectManager.com Raises $3.5 Million in Funding

ProjectManager.com Raises $3.5 Million in Funding


AUCKLAND, NEW ZEALAND--(Marketwired - Jun 19, 2014) - ProjectManager.com, the leader in online project management software for professionals, today announced it has raised $3.5 million in Series A funding to support the company's momentum in the project management software market and expansion into the United States. New Zealand's Zeus Management Limited, a group of visionary investors that are well-known in the software industry, led the round. This backing, along with a newly appointed board of directors, are bellwethers for ProjectManager.com's rapid and aggressive growth.

Proceeds from the Series A funding will be used to build out ProjectManager.com's sales and marketing presence in the United States, where 80 percent of its user base resides.

ProjectManager.com's approach to project management is truly unique in the industry. It is the only project management software available with social, video, mobile and content built into its platform to enable collaboration while managing, tracking and organizing projects. Over the past three years, the company has experienced 85 percent year-over-year growth and amassed approximately 15,000 users around the world. This does not include the roughly 150,000 people using its mobile app. ProjectManager.com's customers include such names as Volvo, IFMA, Kantar, the United Nations and NASA.

"With hundreds of colleagues working around the globe on hotel openings, effectively monitoring, tracking and managing a portfolio of projects is critical to success," said Ilse Wittens, Director Project Management, Hotel Openings & Integration, FRHI Hotels & Resorts. "ProjectManager.com presents a unique software tool that streamlines collaboration and facilitates synergies by incorporating project content, social and mobile into its platform. Our hotel, corporate and senior leadership teams are in sync with centralized access to consistent, real-time data. ProjectManager.com is a valuable tool for FRHI."

"This funding was provided by international investors associated with Zeus Management who have had significant prior investments in the IT industry, including in such companies as Orion Healthcare, Navman, Wynyard and Revera," said Andrew Clements, chairman, Orion Health and director at Zeus Management Ltd. "We are excited by the opportunity ProjectManager.com has in the U.S. marketplace. With a fast revenue growth rate, a proven platform and an impressive customer base, it's destined for greatness."

The round is marked by the addition of ProjectManager.com's very first board of directors, which comprises three technology entrepreneurs with decades of collective experience. The board includes Guy Haddleton, co-founder of San Francisco-based Anaplan, which last year raked in $100 million in Series D funding; Herb Hunt, former longtime IBM executive and director of Wynyard Group; and Graham Shaw, director of San Francisco-based Xero, another successful technology startup that secured $150 million in funding late last year. ProjectManager.com's new board will draw on their collective experience to drive exponential company growth.

"Even at this early stage, ProjectManager.com is leading the pack in the B2B market, uniquely offering social, video, mobile and content in one easy-to-use project management platform," said Jason Westland, CEO, ProjectManager.com. "With this round of funding, we can expand our platform to take the enterprise market by storm!"

About ProjectManager.com
ProjectManager.com provides the industry's most robust, comprehensive online project management solution available. Used worldwide by brands such as Volvo and government organizations like NASA and the United Nations, ProjectManager.com is the only project management software available with social, video, mobile and content built into its platform to enable collaboration while managing, tracking and organizing projects. ProjectManager.com has been recognized with industry awards and was recently named a Deloitte Fast 50 company. ProjectManager.com is headquartered in New Zealand with offices in Silicon Valley. Learn more at www.projectmanager.com. Like us onFacebook and follow us on Twitter @ProjectTips.


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