Sloane ChildPrincipal
Announcing the Recap of Tasktop
Elsewhere Partners is excited to announce the private equity recapitalization of Tasktop, the leading value stream management (VSM) solution to provide organizations with end to end visibility of their software delivery, by Sumeru Equity Partners (SEP).
Elsewhere led Tasktop’s $11 million Series B investment in 2017. In addition to providing capital, Elsewhere Operating Advisor Bill Bock (Chairman of SailPoint, Former President of Silicon Labs) joined the Board of Directors.
Under the leadership of CEO Mik Kersten, Tasktop more than tripled its ARR, launched two new products, and built out the executive team. As a testament to the company's growth and success in the space, Forrester Research named Tasktop as a leader in its July 2020 Forrester Wave: Value Stream Management report and Gartner named Tasktop as a leading vendor in its 2020 Market Guide for DevOps Value Stream Management Platforms.
Sumeru Equity Partners is a technology-focused growth capital firm founded by an experienced team from Silver Lake that invests in growing enterprise technology companies across software, technology-enabled services and hardware. The firm has a longstanding history of investing and partnering with founders and management teams to build growth leaders. SEP's deep experience and operational support in scaling SaaS businesses will enable Tasktop to become the de facto platform for VSM.
Please read more about the acquisition from CEO Mik Kersten here (LinkedIn article).
About the Author
Sloane Child
Sloane is a software investor at Elsewhere Partners where she focuses on diligence, deal execution, and portfolio value creation. Previously, Sloane worked in Business Operations for a VC-backed startup and invested in business services companies at General Atlantic. A native Texan, Sloane is passionate about bringing capital and operational expertise to software companies outside of traditional venture hubs.