Dooap, an Accounts Payable (AP) Automation software for Microsoft Dynamics 365 and A, announced May 14 that it will be relocating their headquarters to Austin.
According to an article from Crunchbase News, the company holds a total of 19 employees and will start with 7 personnel in Austin. On the same day, the company also revealed that it has appointed Mikko Hytönen, a veteran in the software industry who served as the CEO at the Toimitori and the Enoro Group, as its new Chief Executive Officer.
Former CEO and co-founder of Dooap, Antti Kosunen, said they are delighted with Hytönen’s appointment. “With Mikko leading our expansion across the U.S. from new headquarters in Austin, a growing hotbed for technology innovation, we’re looking forward to drawing upon an innovative and experienced talent base and strategic partnership opportunities to build upon the growing market demand for AP automation,” Kosunen added.
The company’s decision to move its headquarters to Austin from New York is induced by the former’s “dynamic tech environment,” which will help the company in their expansion plans in the months to come, explained Hytönen.
The newly appointed CEO also told Crunchbase News that there was a record of 300% revenue rise in the company’s fiscal year ending, and he expects that the revenue would grow by 200% for the next fiscal year.
Dooap’s decision to move to Austin happens amidst an apparent flood of foreign state technology companies either relocating their head offices in Texas or expanding their present operations in the Central.
In a press release, Kosunen said that the company sees Austin as a bourgeoning “hotbed for technology innovation.”
“We’re looking forward to drawing upon an innovative and experienced talent base and strategic partnership opportunities to build upon the growing market demand for AP automation,” he added.