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Enterprise Software - Monday, May 14, 2007

eProject Stealing From Microsoft Project

Seattle-base eProject has raised $12M in Series B funding. Last June it closed $10M in Series A. Bay Partners led this deal, and was joined by return backer Kennet Partners. The company claims that more than 100K users at 650 companies currently use eProject. If they are actually charging for each of these users, that means eProject is pulling in $4M per month, but we suspect they must be giving big volume discounts to big some clients. Still this is a nice start.

eProject charges $40 per head per month. eProject competes with Microsoft Project, @task, Celoxis, eStudio, Milestones, and Smooth Projects. Microsoft Project is by far the leader in this game. One of reasons that is has such a strongly defensible position is that so many companies have written plug-ins to it. Microsoft Project, however, is not Web-based and sells for $600 which gives eProject an entry point.

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