Blackstone signs agreement to invest in TaskUs

Private Equity funds managed by Blackstone (NYSE: BX) have entered into a definitive agreement to invest in TaskUs, a leading customer service and business process outsourcing services provider for high-growth technology companies. The investment, before funding, values TaskUs at more than $500 million.

Founded in 2008 by Bryce Maddock and Jaspar Weir, TaskUs is one of the fastest-growing companies in its industry globally. Its business process solutions, which leverage the latest technology, including AI, advanced Learning Management Systems and big data, help companies quickly scale. TaskUs will continue to be led by Maddock, Weir, and the existing management team, who have been instrumental in driving the company’s growth.

Bryce Maddock, TaskUs co-founder and CEO, commented, “We chose to partner with Blackstone because they have a track record of building category-defining businesses. Our goal is to build TaskUs into the world’s number one provider of tech-enabled business services.”

Read full coverage:

Blackstone to invest in Santa Monica outsourcing firm (Los Angeles Times)
Blackstone Invests in Outsourcing Services Provider TaskUs (The Wall Street Journal)
Blackstone Buys $250 Million Stake in Outsourcing Startup TaskUs (Bloomberg)
AI training and social network content moderation services bring TaskUs a $250 million windfall (TechCrunch)

August 9th, 2018|Categories: Client News|Tags: , , , , , |

TaskUs is moving to the Santa Monica Airport

TaskUs, a leader in digital business process outsourcing, is moving into new offices in the Santa Monica Airport in October of this year. The 6,193-square-foot space, dubbed “TaskForce One” and which previously housed the restaurant Typhoon, has been redesigned by global design firm Unispace to reflect both the setting of the airport and TaskUs’ global presence.

“We love this location and we’re excited to be part of its revitalization,” said CEO Bryce Maddock in a statement. “The space itself is rich in local history and our team frequented Typhoon, so there’s a sentimental value to us personally. It reminds us of how far we’ve come, from TaskUs’ humble two-person beginning to the more than 7,000 team members we now have worldwide.”

Read the full article: TaskUs lands new HQ at Santa Monica Airport (L.A. Biz)

April 6th, 2017|Categories: Client News|Tags: , , , , , , |

DreamHammer launches drone software

dh-bug-reversedDreamHammer, a Santa Monica, Calif.-based software developer, has launched a beta version of its drone software called Ballista which is used to control multiple unmanned drones from different manufacturers, as reported by

The company has been providing its software to the defense, intelligence and homeland security markets and is now looking at applying the technology to different industries, including transportation, logistics, agriculture and law enforcement.

May 16th, 2013|Categories: Client News|Tags: , , , , |

Veggie Grill raises $20M in private equity funding


Veggie Grill, a Santa-Monica based chain of vegan restaurants, has raised $20 million in common-stock funding from both current shareholders and new investors, the Los Angeles Times reported. A large portion of this investment was contributed by Brentwood Associates, making the private equity firm the biggest single shareholder. According to Dow Jones, Bill Barnum and Rahul Aggarwal of Brentwood Associates will join Veggie Grill’s board of directors. “The concept is very well positioned in the industry and has a lot of runway ahead of it,” Aggarwal said.

The media attention surrounding the investment in Veggie Grill illustrates that the American diet is changing, and consumers are demanding tasty vegan options. “[Veggie Grill] is one of the most popular new arrivals on the Northwest food scene,” said the Portland Business Journal.

According to PR Newswire, Chief Energizing Officer Greg Dollarhyde said, “The interest we received from our investors was quite substantial and exciting. This additional capital base will support our aggressive growth plans to meet the increasing consumer demand for delicious, vegetarian food.”

The franchise is growing quickly. And as reported by, Veggie Grill has doubled its locations in the past year and increased its revenue  by over 100 percent.  Yahoo! News reported “[This] is the fourth round of equity funding for the vegetarian restaurant chain, whose menu includes dishes such as the ‘All Hail Kale’ salad.”  The news even circulated to Fortune, proving the mass appeal of Veggie Grill and the excitement surrounding their expanding brand and franchise.

New locations are expected to open in Los Angeles, Orange County, San Diego, and Seattle, during the first half of this year, as reported by Restaurant News.