Continuing the trend of Bay Area companies developing major hubs in the state, sales compensation software provider Xactly Corp is doubling down on its Denver growth plans. The company will take over three floors in the building at 1125 Seventeenth St. downtown as part of a multi-year effort to expand its Denver footprint and add as many as three hundred new members to its team.
The San Jose-headquartered company specializes in sales performance management software, providing a range of cloud solutions that help companies build more effective incentive compensation programs for their teams. Xactly first established an office in Denver in 2011, growing to roughly 75 people before it was acquired in July 2017 by Denver-based private equity firm Vista Equity Partners.
“Joining the Vista family has been a great experience because part of their model is to have focus areas, which allows us to consolidate in key regions that are rich in talent,” said chief marketing officer Micheline Nijmeh. “As a result, Xactly more than doubled its staff in Denver in the second half of our last fiscal year (which ended January 31, 2018) and has plans to expand significantly in Denver this year.”
Xactly more than doubled its staff in Denver in the second half of our last fiscal year and has plans to expand significantly in Denver this year.”
With 150 workers now under its roof and 50 more expected to join this year, Xactly realized it was quickly outgrowing its 1860 Blake St. office. The new space is currently undergoing renovation and will be move-in ready in September. At that time, the company will take over two of the building’s 25 floors, with the option to use a third floor. Over the course of the next eight years, Xactly’s team could reach 400 to 500 employees.
“Our roots were formed in Silicon Valley, and the city of San Jose in particular has been instrumental in helping write our success story,” Nijmeh said. “But it’s really exciting to look outside this area to help build the next tech hubs in the U.S. There is amazing talent in Denver, London and in our other locations. We are excited to bring these hungry, smart, creative people into the ‘Xactlian’ family and continue to grow our business throughout the globe.”
Colorado’s Office of Economic Development and International Trade awarded Xactly an $11.1 million job growth tax credit in November. The company will receive the credit if it delivers on hiring 479 full-time employees within the next eight years.