TORONTO, Feb. 13, 2018 (GLOBE NEWSWIRE) — Loopio, the leading RFP response solution, today announced that it has raised $9 million USD in a Series A round of financing led by OpenView, the expansion stage venture firm. Loopio will use this investment to fuel growth by accelerating product development and expanding its team.
OpenView Partner Ricky Pelletier will join Loopio’s Board of Directors. “OpenView is thrilled to partner with Loopio as they head into this next phase of growth,” he said. “Zak, Jafar, Matt, and the entire team have bootstrapped a truly exceptional business and cutting-edge product relied upon by a customer roster that spans Fortune 500 enterprises to some of the best and most well-known startups. There are big things ahead for Loopio, and we are ecstatic to be a part of the team.”
“Since we started Loopio in 2014, our mission has been to empower our team and our customers to focus on the things that matter,” said Zakir Hemraj, Loopio Co-founder and CEO. “It has been an incredible journey so far, and we’re very excited to drive this momentum forward by partnering with OpenView. This round of funding will allow us to accelerate our product development and continue delivering a world-class experience for our customers.”
The traditional RFP response process is characterized by dispersed content, ineffective mediums of collaboration, and wasted time on manual and repetitive tasks. With Loopio’s RFP Software, enterprises are streamlining collaboration and saving time on responding to RFPs, RFIs, and Security Questionnaires.
Loopio has quickly solidified its lead in the Proposal Software market with very strong user reviews on Capterra and G2 Crowd. Over 300 organizations – including world-leading enterprises such as IBM, Thomson Reuters, Citrix, and Sprinklr – rely on Loopio.
Loopio will use the new funding to expand its team in Toronto and plans to hire over 50 people in 2018, with main growth occurring in the Sales and Engineering teams. Learn about current openings here.
Based in Toronto, Canada, Loopio is the leading RFP response solution that streamlines the way enterprises respond to Requests for Proposals (RFPs), Requests for Information (RFIs), and Security Questionnaires. Since 2014, Loopio has empowered hundreds of Sales, Proposal, and Security teams across world-leading organizations, including Thomson Reuters, IBM, Netskope, Sprinklr, Citrix, and many more.
For more information, visit loopio.com and follow:
OpenView, the expansion stage venture firm, helps build software companies into market leaders. Through its Expansion Platform, OpenView helps companies hire the best talent, acquire and retain the right customers and partner with industry leaders so they can dominate their markets. Their focus on the expansion stage makes OpenView uniquely suited to provide truly tailored operational support to its portfolio companies. Learn more about OpenView at openviewpartners.com.