Kapta pursuing new round of seed funding

BOULDER – Kapta LLC cofounder Alex Raymond said a new seed round of funding will help the local software startup ramp up hiring and growth as the two-year-old company looks to get its platform in the hands of more CEOs.

No regulatory filing on the exact amount of the funding round had been made as of Friday. But Raymond, Kapta’s chief executive, said the round was “more than $500,000.” Westminster-based Access Venture Partners, Boulder-based Bullet Time Ventures and California-based Icon Venture Partners all participated in the round.

Kapta makes a software platform that helps companies clearly track their goals by breaking down the objectives and tracking how each employee is contributing to the success of various initiatives.

SPONSORED CONTENT

Prioritizing mental health in hospice care

Prioritizing mental health support alongside physical comfort, Pathways hospice care aims to enhance the quality of life for patients and their families during one of life's most challenging transitions.

Founded in 2012 by Raymond, Ben Blasko and Chris Wells, Kapta already has 20 customers ranging in size from $50 million per year companies to $500 million per year enterprises. Kapta itself did about $500,000 in revenue in 2013.

Kapta is in the middle of the Techstars Boulder accelerator program. Despite their success bootstrapping the company until this summer, Raymond said the founders decided to join Techstars as a way to take a step back, analyze the way they were doing things, and leverage the mentorship of the program as the company tries to rapidly increase its customer base and reach investors.

“We’ve been able to really capitalize on a lot,” Raymond said.

Kapta has six full-time employees, with two recently added, and expects to add at least four more by the end of the year.

The big value in Kapta’s software, Raymond said, is in altering the employee-manager relationship. CEOs can get employees more involved in execution of plans but also creation of those plans.

The CEOs then have access to an online dashboard that gives them detailed performance analytics to see which initiatives are progressing or falling behind, and are able to head off problems or delays before they occur.

“If you give up control and let people determine how they’re participating, you wind up getting more data and better control of your company,” Raymond said.