Zeus Management, the investment vehicle founded in 2004 by Orion Health chair Andrew Clements and David Lock, has led a $3.5 million Series A funding round in ProjectManager.com.
CEO Jason Westland started the online project management software firm in 2008 and it's notched 85 percent year on year growth and around 15,000 users globally. Another 150,000 use its mobile app and customers include NASA, the UN and Volvo.
"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," says Clements.
Project Manager will use the funds to expand its sales and marketing presence in the US, which houses 80 percent of its user base. It also wants to grow its platform for the enterprise market, says Westland.
"Even at this early stage, ProjectManager.com is leading the pack in the B2B market, uniquely offering social, video, mobile and content in one project management platform," he says.
Project Manager is also building a board of directors, including tech entrepreneurs Guy Haddleton, co-founder of San Francisco based business planning software venture Anaplan; Wynyard Group director and former IBM exec Herb Hunt; and Xero director Graham Shaw.
The company is headquartered in Auckland but has an office in Silicon Valley.
Westland wrote the book The Project Management Lifecycle and previously founded Method123.com and MPMM.co in 2006, acquired by a US consultancy in 2012. Project Manager has previously secured more than $1 million in investment.
Idealog has been covering the most interesting people, businesses and issues from the fields of innovation, design, technology and urban development for over 12 years. And we're asking for your support so we can keep telling those stories, inspire more entrepreneurs to start their own businesses and keep pushing New Zealand forward. Give over $5 a month and you will not only be supporting New Zealand innovation, but you’ll also receive a print subscription, an Idealog t-shirt and a copy of the new book by David Downs and Dr. Michelle Dickinson, No. 8 Recharged (while stocks last).