Big Investment, Big Success at Conga
Thursday, May 19, 2016
Software company Conga has changed remarkably since landing major funding from new investors last year.
Its namesake product line remains popular, but much else is different. It brought on a new CEO, quadrupled its staff, acquired three companies and moved its headquarters.
CEO Matt Schiltz the company isn’t done yet.
“We’re growing the business organically and we’re adding capability though acquisition,” he said. “We’re definitely going to continue to grow, and we’re hiring to bring aboard the best talent we can.”
Conga is the public name for the holding company AppExtremes LLC, started in 2006. It makes software applications to use with customer relationship management software from Salesforce.com (NYSE: CRM).
Cloud-based technology that helps business understand and track their customer relationships is poised for even more growth after years of companies adopting it.
Conga’s in a good position, Schiltz said.
Conga’s Composer app is the top download on the Salesforce app marketplace and has 200,000 users in 100 countries.
The app lets people create documents straight from Salesforce data, allowing data to be pulled out and put back into the Salesforce system without the cumbersome process of manually entering data or creating a PDF.
Last spring, Conga attracted $70 million in backing from Insight Venture Partners, the largest funding round by a local software company of the year.
Schiltz sees Conga as similar to Seattle-based DocuSign, which he ran for four years. That company also worked closely with Salesforce.com, and it grew.
Conga had about 50 employees six months ago. Today it’s up to 200, with a majority of them in Broomfield, Schiltz said.
The company doubled its office space in January, moving into the Interlocken office park building that’s also home to Vail Resorts Inc.’s (NYSE: MTN)headquarters.
Last month, Conga acquired three other companies to bulk up the Conga suite of software.
Two companies, CRMCulture and ActionGrid, were based nearby. ActionGrid, in Superior, made software to streamline data entry and visualization in Salesforce, while CRMCulture, based in Lafayette, was a Salesforce software integration consultancy.
Both those businesses moved into Conga’s office.
Conga also bought Orlando, Florida-based Novatus, maker of contract-management for use with Salesforce. The acquisition meant adding offices in Florida and in London.
With its investors as owners, Conga is on a course to eventually be acquired or go public. But Schiltz isn’t thinking about that now.
“We spend 100 percent of our effort on building a great company that we’re proud of and our employees love to be part of,” he said. “I’ve found that’s the best formula. If you’re successful, the employees do well and the customers do well, and then the shareholders will eventually do well — it just works itself out when you build a good company in a hot space.”
Greg Avery covers tech, telecom, aerospace, bioscience and media for the Denver Business Journal and writes for the “TechFlash” blog. Phone: 303-803-9222.