Denver to become company's "center of gravity" on the heels of a year's worth of expansion.
Xactly, a sales-performance management company, has announced plans to expand its operation in Denver.
Founded in 2005 and based in San Jose, Xactly works with companies such as American Express, Hyatt, and LinkedIn and provides sales performance management software. It went public in 2015 and has offices in Europe, Canada, and India. In 2017, it was acquired by Denver-based private equity firm Vista Equity Partners.
Currently, the company has about 600 employees, with 250 of those at its Denver location. It expanded into the metro area in 2011 with a focus on sales and has since added positions in finance, marketing, engineering, and more. In the last year alone, it grew its Denver workforce from 75 people to 250 people, and it recently moved into three floors of a new downtown office on 17th St., which has the capacity to accommodate 500 employees.
A deciding factor in the company expanding in Denver was the talent pool, lifestyle, and cost of living. It is easier to find quality employees in the metro than the more expensive and tech-company saturated markets of California. According to CompTIA, two cities in the Denver area, Denver-Lakewood-Aurora, and Boulder were named among the best of the best for tech workers based on salaries, job availability, growth, and cost of living.
“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.
Growth has also been spurred by an $11.1 million job growth tax credit awarded through Colorado's Office of Economic Development and International Trade. Xactly will receive the credit if it hires 479 full-time employees within the next seven years.
Xactly is just one of several tech companies expanding into the Denver area. Apple will be adding more jobs in Boulder, Lockheed Martin will be expanding in Jefferson County, and Facebook recently announced it was adding an office downtown.
