Loopio Inc. has raised US $9 million in Series A funding led by OpenView Venture Partners, a Boston based expansion stage venture firm.
The financing closed in 2017. OpenView Partner Ricky Pelletier has joined Loopio’s board of directors.
Toronto based 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.
Loopio will use new funding to fuel growth by accelerating product development and expanding its team. Loopio intends to expand its Toronto team and plans to hire over 50 people in 2018, with main growth occurring in the Sales and Engineering teams.
“OpenView is thrilled to partner with Loopio as they head into this next phase of growth,” said Pelletier. “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.”
photo credit: Loopio
Ted is the architect of CVCA infobase, and is the architect of CPE Media's Financings.ca, Canada's most sophisticated and advanced all private capital and public market financing database.
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