Daptiv financing deal gives new CEO 'skin in the game' |
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Daptiv financing deal gives new CEO 'skin in the game'
Franklin
Daptiv -- the Seattle online project management and collaboration startup -- has raised a small $2 million round of funding. The cash infusion primarily comes from the management team, including newly-appointed CEO Chase Franklin.
"Speaking for myself, when I’m excited (about) a business with which I’m involved I like to have skin in the game," said Franklin, who previously sold Seattle startup Qpass for $275 million to Amdocs.
In addition to Franklin, Chairman Kevin Hickey and Chief Operating Officer Mark Klebanoff participated.
Franklin tells TechFlash that the money will be used for normal business operations.
Founded 12 years ago, Daptiv has raised about $30 million from Bay Partners, Kennet and others over the years.
Last month, Franklin expressed excitement about the opportunity for Daptiv to take advantage of the fragmentation in the online project management sector. As part of that, he did not rule out the possibility of acquisitions.
About John Cook
John Cook is co-founder and executive editor of TechFlash. He has been covering the technology beat for nearly a decade, writing about startups, entrepreneurs and venture capital, most recently serving as a reporter/blogger at the Seattle Post-Intelligencer.
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