Vancouver, BC, Sept. 12, 2019 (GLOBE NEWSWIRE) -- Traction on Demand (“ToD” or “the Company”), one of North America’s largest dedicated Salesforce services providers, announced today that it has secured external funding from major investment firms Guidepost Growth Equity and Salesforce Ventures. The investment signals exponential growth for the Company as it works toward aggressive expansion targets in 2020 and beyond. Its two strategic partners were chosen by ToD for their alignment with the values and vision of the Company.
Traction on Demand has been self-funded since inception in 2007, during which time it has successfully expanded to a team of over 700 employees who service global customers with Salesforce platform services. The Company has also expanded its offering to include cloud-based software. The outside capital secured will be leveraged to amplify existing efforts and accelerate growth, including the scaling of its portfolio of software companies more quickly, including Traction Complete and Traction Rec, among others.
“At Traction on Demand, we’ve always been dedicated to fostering and supporting the ideas of our team. This has allowed us to develop and launch new industry leading products that both complement our existing services or stand independently,” said Greg Malpass, CEO and Founder of Traction on Demand. “We’re so excited to have found two incredible investors that understand and share our passion for making Traction on Demand a true software incubator as we look to accelerate our impact in the market. We’re looking forward to the growth this investment will bring, not only to our organization, but the North American Salesforce landscape as a whole.”
“Traction on Demand is a long-standing Platinum Salesforce consulting partner, providing exceptional services and a team that is committed to enabling their customers to scale effectively with Salesforce,” said Tyler Prince, Executive Vice President, Industries and Partners, Salesforce. “We are excited to support Traction on Demand in their next phase of growth.”
“Guidepost is thrilled to partner with Traction on Demand as the company is squarely in our sweet spot — bootstrapped, fast growing, technology enabled, profitable, a market leader, and run by an outstanding team. We look forward to working closely with management to help scale to the next level,” said Doug Kingsley, Managing Partner of Guidepost Growth Equity.
One of the Company’s incubated products, Traction Guest, a world leading Enterprise Visitor Management Platform, also recently completed a 13M USD raise. ToD is currently incubating three additional software companies that will benefit from the fundraise announced today.
For more information, visit www.tractionondemand.com.
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About Traction on Demand
Traction on Demand is one of North America's largest dedicated Salesforce consulting and application development firm delivering cross-platform solutions and standalone SaaS products. Traction on Demand provides services to support the design, development, implementation and integration of technology and process across commercial and nonprofit organizations. Unlike traditional system integrators, Traction on Demand's mission is to develop and grow the Salesforce ecosystem by empowering people and enabling organizations. Traction on Demand is a proud B Corp.
Traction on Demand’s SaaS applications include Traction Guest, Traction Hierarchies, Traction Complete and Traction Rec.
About Salesforce Ventures
Salesforce is the fastest growing top five enterprise software company and the #1 CRM provider globally. Salesforce Ventures—the company’s corporate investment group—invests in the next generation of enterprise technology that extends the power of the Salesforce Customer Success Platform, helping companies connect with their customers in entirely new ways. Portfolio companies receive funding as well as access to the world’s largest cloud ecosystem and the guidance of Salesforce’s innovators and executives. With Salesforce Ventures, portfolio companies can also leverage Salesforce's expertise in corporate philanthropy by joining Pledge 1% to make giving back part of their business model. Salesforce Ventures has invested in more than 300 enterprise cloud startups in 20 different countries since 2009. For more information, please visit www.salesforce.com/ventures.
About Guidepost Growth Equity
Guidepost Growth Equity is a leading growth equity firm that partners with technology companies offering innovative solutions in large, dynamic markets including tech-enabled services, communications and infrastructure, and data and information services. Current and prior investments include OutSystems, WP Engine, Dyn (acquired by Oracle), Jive Communications (acquired by LogMeIn), and ProtoLabs (IPO on NYSE). Guidepost Growth Equity provides the flexible capital, operational support, and strategic guidance necessary to support the continued success of growth-stage businesses and has over $1 billion of capital under management. For more information, please visit our website at guidepostgrowth.com.