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Silicon Valley software firm Xactly expands in Denver

The Bank One building at 1125 17th Street (left) and Seventeenth Street Plaza at 1225 17th St. (right), where Xcel Energy offices, stand on the Denver skyline on Nov. 4, 2004.

Jerry Cleveland, The Denver Post

The Bank One building at 1125 17th Street (left) and Seventeenth Street Plaza at 1225 17th St. (right), where Xcel Energy offices, stand on the Denver skyline on Nov. 4, 2004.

Compensation software provider Xactly just committed to taking three floors in the downtown Denver building at 1125 Seventeenth St. as part of its push to expand in Denver and hire hundreds of new workers.

The San Jose-based cloud software company, which helps companies pay sales commissions and other compensation, has had an office and employees in the city since 2011, according to founder and CEO Christopher Cabrera. In July, the company was acquired by Vista Equity Partners, a private equity firm co-founded by Denver native Robert Smith. Vista owns several companies in Denver, including Ping Identity, Vertafore and Granicus.

“One of the things Vista has as part of its model is focused areas, or centers of excellence where we drive a lot more of the hiring and (moving of employees) … so you don’t have remote workers in different parts of the country,” Cabrera said during a recent interview. “Denver is, and I can’t say it’s because of Robert, but the reason we’re there to begin with is that it’s a fantastic location for a strong talent pool, great culture and geographically central.”

Since joining Vista, Xactly doubled its workforce in Denver to 150 people and it was getting too crammed at the 1860 Blake St. location. With plans to ramp up to 200 employees by the end of 2018, the company just signed the lease to take three of the 25 floors in the building, which also houses JPMorgan Chase. The new space is now undergoing renovations and will be ready in September. At that time, Xactly’s Denver team will move into two floors with an option on a third floor. The space could ultimately house 400 to 500 employees, Cabrera said.

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