CPE News (5/9/2019) – VanillaSoft has raised $4 million in equity and debt financing from Fonds régionaux de solidarité FTQ Outaouais (FRSO) and Government of Canada.
Fonds régionaux de solidarité invested $3 million while Canada Economic Development for Quebec Regions (CED) provided $1 million in repayable contribution.
Led by CEO David Hood, VP Simon Gregoire and Partner Genie Parker, Plano, Texas and Gatineau, Québec based VanillaSoft is a leading sales engagement technology company.
VanillaSoft will use proceeds to grow its R&D and sales teams as it continues to expand in North America and beyond.
photo credit: VanillaSoft
VanillaSoft Raises $4M to Grow its Sales Team and Leading Sales Engagement Platform
Equity and financing from Canada Economic Development and Fonds Régional de Solidarité recognize innovation and opportunity for global business growth
PLANO, Texas & GATINEAU, Quebec–(BUSINESS WIRE)–VanillaSoft, a leading sales engagement technology company, is announcing $4M of additional funding from the Government of Canada and a leading capital development fund. It received a repayable contribution of $1 million from Canada Economic Development for Quebec Regions (CED) and $3 million from the Fonds Régional de Solidarité Outaouais (FRSO).
Financing from the Fonds Régionaux de Solidarité FTQ Outaouais (FRSO) and Canada Economic Development for Quebec Regions (CED) will be used to grow VanillaSoft’s R&D and sales teams as the company continues to expand in North America and beyond.
“Digital technology is changing the way things are done around the world and providing companies with outstanding development opportunities. Not only is VanillaSoft helping the Outaouais region build a reputation as a leader in the field of artificial intelligence, but its expertise and the innovative technology it continues to export will allow it to create 30 jobs right here in Hull-Aylmer,” said Greg Fergus, Member of Parliament for Hull-Aylmer.
“Our government is laying the foundation for Canadians to become more competitive and succeed in the global economy. The investment in VanillaSoft is building on our competitive advantages by supporting the company’s marketing efforts in order to boost economic growth and create good, middle class jobs for Canadians,” said the Honourable Navdeep Bains, Minister responsible for CED.
“The financial support and incentives provided by the Government of Canada allow companies like VanillaSoft to thrive,” said David Hood, CEO at VanillaSoft. “We have the opportunity to develop new markets and services and appreciate the continued support from CED for our local employees as we promote sales and business here in Quebec and beyond.”
“The FRSO has supported VanillaSoft since the very beginning,” added Hood. “They have been – and continue to be – a valued partner as we embark on future growth and the delivery of the best sales engagement platform available anywhere.”
VanillaSoft, the industry’s most successful sales engagement platform, helps sales development teams engage over 15,000,000 contacts every month. Used standalone, or in combination with existing traditional CRM systems, VanillaSoft empowers sales reps to respond to new leads faster, interact with leads more consistently, across more channels, and generate more qualified sales opportunities. Globally, thousands of users employ VanillaSoft’s queue-based sales engine and intellective routing to implement sales cadence automation resulting in substantial gains in speed-to-lead, persistency, productivity, and revenue-per-rep. VanillaSoft is a privately held company headquartered in Plano, Texas, USA. To learn more, visit www.vanillasoft.com.
About Canada Economic Development for Quebec Regions
Canada Economic Development for Quebec Regions (CED) offers guidance to Quebec businesses and regions toward the economy of tomorrow. CED focuses its interventions on SMEs and non-profit economic organizations by building on innovation and inclusive growth, targeting projects with significant economic benefits, and acting as a facilitator in bringing together the right partners for a given project.
About Fonds régionaux de Solidarité FTQ
For more than 20 years, the Fonds régionaux de solidarité FTQ have been involved in the economic development of each of Québec’s regions. Created in 1996 and part of the Fonds de solidarité FTQ’s network, the Fonds régionaux have invested $697 million in 1,095 projects. Through these investments, they have helped to create, maintain or safeguard close to 39,400 jobs. For more information, visit www.fondsreg.com.
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