SEATTLE, WA – Jan. 31, 2011: Daptiv, the on-demand leader in project portfolio management software, today announced year-over-year revenue growth of 15 percent and closed out the year adding more than 100 new customers. This continued growth is driven by companies’ need for an on-demand, SaaS-based PPM offering that provides a holistic view of an organization’s project portfolio. Customers use Daptiv to align their projects to business strategies, while providing executives, stakeholders and project teams with new ways to collaborate and work more productively and effectively.

Investments in strategic business initiatives can often be bogged down in financial and execution risk, as well as inaccurate reporting and poor decision making due to the lack of visibility and collaboration. Common issues include ad-hoc or ineffective prioritization decisions, time-consuming data gathering for management reports, re¬source bottlenecks and lack of visibility into resource utilization, and inconsistent approaches to planning and managing projects. Over the past 12 months, Daptiv’s PPM solution has emerged as the preferred solution to gain insight into the value and cost of projects and a company’s ability to deliver value to the business.

Daptiv’s software is used by more than 80,000 subscribers worldwide across industry verticals ranging from healthcare to education, technology and financial services, among others. In 2010, Daptiv added more than 100 new customers to its roster, including Allegiant Air, Australian Red Cross Blood Service, Banco Espirito Santo, Broward Health, Citrix Systems, Inc., Forum One Communications, InterContinental Hotels Group, MetLife and Premera Blue Cross.

“Daptiv has long been a customer-driven company and the success we’ve seen this year is due directly to those forward-thinking organizations worldwide that are using Daptiv PPM to run their businesses more effectively and efficiently,” said John Baldwin, CEO of Daptiv. “As PMOs take on a more strategic role in the enterprise, Daptiv will continue to emerge as the preferred, trusted solution for ensuring greater visibility and accountability into project, program and portfolio execution.”

In addition to gaining unprecedented customer growth, Daptiv achieved a number of significant milestones in 2010 encompassing technology innovation and corporate momentum. The company issued 12 product releases and delivered more than 100 new features to its customers, including its Summer 2010 release that included a powerful new user interface and a new Web 2.0 customer experience. Daptiv also announced pre-configured ERP connectors to its host of standard Daptiv Connect™ integrations to give customers greater financial insight, management and control.

Additionally:

• June 2010 – Analyst firm Gartner positioned Daptiv in the Visionaries quadrant in its “Magic Quadrant for IT Project and Portfolio Management” report.

• July 2010 – Daptiv was acquired by Parallax Capital Partners and software industry veteran John Baldwin joined the company as CEO. Gartner’s Daniel Stang noted in an October 2010 research note that “the Daptiv acquisition was led by PPM visionaries within Parallax Capital Partners. These visionaries will also lead an investment in Daptiv to develop its PPM application services further, to support its maturing customer base, and to establish a worldwide presence.”

• December 2010 – Daptiv acquired BlueNova, an Australian PPM company, to capitalize on the fast growing market opportunity for PPM solutions in the Asia Pacific region.

• December 2010 – Analyst firm IDC positioned Daptiv as an Industry Leader within its “IT SaaS/On Demand” market view of the “IDC MarketScape: IT Project and Portfolio Management 2010 Vendor Analysis,” citing user demand for intuitive, viable and cost-effective project portfolio management (PPM) software-as-a-service (SaaS) solutions as the basis for its finding.

Daptiv also worked with industry luminaries and customers to produce several industry thought leadership webinars, including an online session in June, “Forrester PPM Insights: The Need to Break Out of the PPM Silo” featuring Margo Visitacion of Forrester Research, and November’s “Evolution of the Enterprise Project Office at Sisters of Mercy Health System” with Sisters of Mercy Health System. Additionally, Daptiv launched a series of six educational PMO Professional Webinars which will cover project intake, resource management, project team collaboration, project portfolio optimization and executive visibility. The series will provide insights and perspectives from project management experts and Daptiv customers running successful project management offices.

About Daptiv
Founded in 1997, Daptiv is the leading provider of on-demand Project Portfolio Management (PPM) solutions. Daptiv has helped thousands of companies improve their strategic planning and business execution by offering adaptable PPM solutions and expert professional services. Daptiv’s customers include world-class organizations such as Beam Global, Ikon, Coach, Harvard University, Honeywell, InterContinental Hotels Group, and Delta Dental.