Tasktop Doubles Year-on-Year Subscription Revenue in First Half Fiscal Year 2018

Reflects Strong Demand for Its Value Stream Integration Solution

VANCOUVER, British Columbia--()--Tasktop, the leader in Value Stream Integration, today announced that during the record-setting first half of fiscal year (FY) 2018 – covering the reporting period Oct. 1, 2017 to March 31, 2018 – the company doubled its year-on-year subscription revenue vs. the same period of the prior fiscal year. New customer brands from its direct business increased by 60 percent compared to last year’s FY, while revenue from partners remained strong as well.

Tasktop’s strong revenue growth has been driven by a market that increasingly understands the value of Value Stream Integration. For example, an April 2018 report from Forrester (Elevate Agile-Plus-DevOps With Value Stream Management by Christopher Condo and Diego Lo Giudice) noted that “Practicing value stream management (VSM) allows companies to make their Agile plus development and operations (DevOps) development environments into real digital business drivers. With VSM, organizations implementing Agile-plus-DevOps will better understand the value they deliver, the efficiencies they gain, and the further optimization possibilities for each software product in their delivery pipeline.” The report further noted that “Tasktop provides integration capabilities across a broad range of DevOps tooling — a core VSM capability that enables traceability, visibility, and connections between the people, process, and technology.”

According to Neelan Choksi, Tasktop president and COO, “We've had an incredibly strong start to our year, which reflects the growing demand for value stream management solutions. More and more organizations are realizing that Agile and DevOps aren't enough to provide the visibility CIOs need to align the software they're delivering with critical business needs. For organizations seeking to transform their development environments into real digital business drivers, Tasktop is clearly the way to go.”

Q1 2018 highlights included the following:

Employee Growth

Tasktop increased its global staffing, with significant growth in both its Vancouver headquarters and Austin (U.S. headquarters) offices. Overall, headcount grew by more than 30 percent during the past twelve months (from April 1, 2017 to March 31, 2018), while go-to-market team staffing increased by 50 percent during this period.

Leadership

Dominica DeGrandis joined the company as director of Digital Transformation. In this role, she helps grow market awareness of Tasktop within the DevOps community and assists organizations to better understand, visualize and optimize their value streams. DeGrandis is a regular speaker at global DevOps and Lean events and her latest book: Making Work Visible: Exposing Time Theft to Optimize Work & Flow, was published in November 2017.

Integrations

In the first half of FY 2018, Tasktop augmented its Tasktop Integration Hub with an integration with Intland’s codeBeamer ALM, an application lifecycle management tool that enables teams to manage their requirements, software development, testing and quality assurance, risk management, variants management and more. Driven by a number of Tasktop’s automotive, medical and defense customers, this codeBeamer integration with Tasktop guarantees real-time stakeholder collaboration across the lifecycle to enhance productivity and reduce costs and time to market.

Awards/Charity

During this period, Tasktop was once again named to the 2018 Ready to Rocket list. The company also launched the Tasktop Community program to give back to the communities in which its employees live and work.

About Tasktop

Over one million users employ Tasktop’s Value Stream Integration technology to transform software development and delivery. Tasktop not only unifies the software development and delivery team, but also provides unprecedented visibility into the business critical processes of software delivery. Tasktop customers are the global leaders in financial services, insurance, government and manufacturing, and include 43 of the Fortune 100, 11 of the top banks in the world, six of the top six health plans and four of the top ten US insurance companies. Partners, including CA, Micro Focus and IBM, rely on our independent, vendor-neutral role to connect their customers’ software delivery disciplines via OEM distributions of our products. For more information about Tasktop, please visit: http://tasktop.com/.

Twitter: @tasktop
Blog: http://blog.tasktop.com/

Contacts

Tasktop
Joyce Bartlett, +1 781-771-3112

Release Summary

Tasktop announces the record-setting first half of fiscal year (FY) 2018.

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Contacts

Tasktop
Joyce Bartlett, +1 781-771-3112