Dallas-based ActivTrak is a cloud-based productivity monitoring software provider company that announced it closed $20 million in Series A funding led exclusively by Elsewhere Partners. This investment was unique as ActivTrak had requested Elsewhere Partners to bring in a team of seasoned software leaders to help deliver on their business vision for rapid growth and scale.
So Elsewhere Partners Operating Advisor Rita Selvaggi is becoming the CEO of ActivTrak. And Elsewhere Partners Operating Advisor Josh Stephens is going to provide ongoing counsel on product strategy for ActivTrak. The company is going to continue maintaining its office in Dallas while establishing headquarters in Austin, Texas.
“We considered investment from many sources, but we wanted more than a check,” said ActivTrak co-founder Herb Axilrod. “My co-founder, Anton Seidler, and I were impressed with what Elsewhere Partners brought to the table with their team of operating advisors, deep experience in the software market, and access to talent that understood our business model and could provide the acceleration we sought for the company.”
As CEO, Selvaggi is going to apply three decades of experience leading high-tech sales, business development, and marketing strategy to help ActivTrak scale its go-to-market operations and product development. Selvaggi was previously the chief marketing officer at AlienVault and SVP of marketing at SolarWinds. She also had executive roles at Blue Coat Systems, Permeo Technologies, pcOrder, and IBM. Currently, ActivTrak has 130,000 freemium users and 5,000 subscription customers.
“Given our longstanding relationship with Rita and her deep background scaling software companies with velocity mid-market sales models, she was the ideal fit to lead ActivTrak’s continued expansion,” added Elsewhere Partners founder and partner Chris Pacitti. “Elsewhere Partners is focused on helping B2B software innovators build on their early successes and take their businesses to the next stage. ActivTrak has achieved considerable customer adoption with no outside capital and has the potential to become the mid-market leader for workforce analytics.”
ActivTrak is a comprehensive cloud-based analytics service that allows businesses to gain insights and improve employee productivity. As a freemium service easily installed on an employee’s desktop to measure activity, the ActivTrak platform provides aggregate data on the day-by-day performance for a company. And information is displayed on an easy-to-manage dashboard. Plus the software is easy to install and data transfer is encrypted.
