An Irvine software company that’s helped Gap, Cisco and Dell streamline work projects has expanded into a new 5,000-square-foot headquarters.
Project Insight’s space at 230 Commerce St. near The District is 40% larger than its previous location, providing room for growth and hiring.
“We’re growing at a fast clip, and we just ran out of space,” said Vice President Cynthia West.
The company is posting revenue gains of about 30% annually, boosting sales of its project management software to the $5 million mark.
The new headquarters, close to bike paths and volleyball courts, is aimed at recruiting and retaining younger employees looking for a cool place to work, West said.
The company’s cloud-based system allows users to see project developments and collaborate in real time, as well as balance resources and track time, expenses, budgets and reports.
Project Insight, one of the first software-as-a-service providers in the early 2000s, targets small to medium-sized businesses with its offerings.
An average deal is between $15,000 and $50,000.
The company employs fewer than 50 people.
Cofounder Steve West, Cynthia’s brother, was an alternate on the U.S.
Olympic swim team in 1996 and was the oldest athlete to qualify for the Olympic trials in 2012 at age 39.
He holds three masters’ world records in the breaststroke.
Kofax on Russell Indexes
Irvine-based business software maker Kofax Ltd. has been added to the Russell indexes, boosting its profile for investors.
More than 11.8 million shares of Kofax were traded in its first trading session on the Russell on June 27, nearly 20 times the daily average of some 602,000 shares.
“It’s not uncommon for funds to purchase new index participants like Kofax, as they did on Friday, June 27th,” said Chief Executive Reynolds Bish. “Our inclusion in the Russell indexes is another positive step toward raising Kofax awareness with U.S. investors.”
The company, which has a dual listing on the London Stock Exchange, could use some help, as it is lightly tracked by U.S. analysts.
Kofax makes scanning software used by businesses to streamline the flow of information, eliminate paper, speed productivity, reduce costs and improve customer service.
It raised $11.7 million in its December initial public offering.
Taxi to the Max
The taxi-hailing app developed by San Francisco-based Flywheel has spun into Orange County with a partnership with Taxi Maxi, which operates about 50 vehicles out of Newport Beach.
The company is targeting vacation spots, college towns and major urban areas in an increasingly competitive market that’s been upended by the likes of Uber, Lyft and other companies incentivizing drivers to use their own cars for service.
“There’s a lot of market for all of us,” said Chief Executive Steve Humphreys. “Taxis are empty more than half the time. Why don’t we try to get more people in those cars?”
Flywheel takes 10% of the base fair and $1 per ride.
The company is growing revenue about 20% month-over-month and will top $12 million this year.
