Wednesday, April 16, 2008
Central Desktop Raises $7M
Pasadena-based Central Desktop, which operates a software-as-a-service offering for project management, said today that it has raised $7M in a first round of funding from OpenView Venture Partners. According to the firm, the investment will be used to further accelerate its R&D, marketing, and sales efforts. Isaac Garcia, the firm's CEO, told socalTECH that the firm has been cash flow positive for over 6 quarters, and decided to raise a round of venture funding to try to break away from the pack. Garcia said that the firm's product is now being used by over 125,000 users. Asked how Central Desktop connected with OpenView, Garcia told socalTECH that the venture firm came to the company because they were first customers of Central Desktop. "They were interested in the collaboration market space, and as customers, they really understood our business, and loved our product." Garcia said. Central Desktop's online software allows project teams to manage projects, share documents, and collaborate through a browser-based workspace. More information »