Business management systems developer Xledger has moved its North American headquarters to Colorado Springs.
The company cited lifestyle, cost of living, tax rates and natural beauty as deciding factors in its move to the Springs, according to a company press release.
Xledger’s first move to the US was to Palo Alto, Calif., but founder Jarle Sky said he found the environment not optimal for growth, employee retention and quality of life.
“We’re interested in building a company where we serve great businesses, hire great people, and can take care of both,” Sky said in a statement. “Colorado Springs offers a friendly business environment and a great place to live, which allows us to grow our business in a sustainable way and gives us time and intellectual capacity to innovate and lead full lives.”
The company, which has operations in Europe and Scandinavia, was founded in 2000 by Sky and two colleagues, who experienced the introduction of the Internet and foresaw it as crucial for future business operation. Sky envisioned a system that could streamline accounting and financial management for small and medium businesses, and make information easily available to all types of users.
Xledger launched a finance and administration system ‘in the cloud’ long before the term – or the utility – appeared in the market. The product has evolved to include additional functions, such as billing, payroll, employee expenses, purchasing, project accounting, logistics, reporting and bank integration.
Xledger is currently based in Norway, with a customer base of more than 3,500 and about 50 employees worldwide. The company has grown 30 to 40 percent per year in the last three years and saw $9 million in income in 2012.
Long-term plans include hiring approximately 30-50 local employees over the next two years as Front Range business increases; developing the burgeoning Interquest tech area, which currently houses Oracle, RT Logic, FedEx and a Wal-Mart data center; and expanding into Asia-Pacific and South American markets.