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CoTap Completes $5.5M Series A Financing Round

Wed, 05/29/2013 - 2:11pm
CoTap

Former Yammer executives will roll out a workplace mobile messaging product later this year.

San Francisco– CoTap, a new company created by former Yammer Chief Product Officer Jim Patterson and Senior Director of Engineering Zack Parker, hasannounced that it has raised a $5.5 million Series A round of funding that will accelerate the development of its workplace mobile messaging product.

With CoTap’s workplace mobile messaging product, employees will be able to communicate faster and easier through short messages, similar to SMS, both one-on-one and in groups. Employees will be able to initiate new discussions and access all current conversations from their smartphones, tablets and desktops, creating a unified experience across all devices. CoTap will also provide security and compliance features to businesses looking to roll out a company-wide employee mobile messaging solution.

“SMS and mobile messaging have replaced phone calls and emails as the predominant way we communicate in our personal lives, but the workplace still lacks a dedicated tool for this type of communication,” said Jim Patterson, CoTap founder and CEO. “CoTap’s mission is to improve the way today’s employees interact in the workplace by offering them a familiar, but business-centric option for exchanging short messages. With this new capital and our investors’ seasoned experience, CoTap now has the necessary resources to deliver on this vision.”

The Series A capital will be used to scale the engineering team to build out the workplace mobile messaging product. The round was led by Charles River Ventures, with participation from Emergence Capital Partners. In addition to the financing, George Zachary of Charles River Ventures and Jason Green of Emergence Capital Partners will be joining CoTap’s board of directors.

“The use of smartphones in the workplace is still on the rise and soon text messaging will be one of the primary ways employees communicate,” said George Zachary, partner of Charles River Ventures. “Jim and Zack’s past experience at Yammer has primed them to understand modern workplace communication and bridge the gap between end users’ and businesses’ needs.”

For more information visit www.cotap.com.

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