LEAWOOD, Kan., March 16, 2020 (GLOBE NEWSWIRE) -- RFP360, the leading RFP issuing and responding software platform, today announced it secured a second strategic growth investment from Five Elms Capital. The funds will continue to support the growth of RFP360’s business including ongoing expansion of the product development, marketing and sales teams.
The investment comes a year after the first round of funding from Five Elms Capital and brings their total investment to $12 million.
Last year, RFP360 expanded its executive leadership team starting with the hire of David Lintz as chief executive officer, followed by Beau Wysong as chief marketing officer and most recently Ryan Townsend as chief technology officer. The company also moved its global headquarters to Leawood, Kansas after more than doubling its headcount.
“We experienced a tremendous amount of growth in the last year from both a personnel and product standpoint,” Lintz said. “The additional investment from Five Elms will allow us to accelerate our growth and success in 2020 while continuing to disrupt the industry.”
Following the release of their knowledge management solution, industry-exclusive knowledge extensions and other platform enhancements, RFP360 was named a Leader in the Winter 2020 G2 Grid® RFP Report. The designation is awarded based on reviews gathered from their user community in addition to data aggregated from online sources and social networks.
“We’re extremely pleased with the outcomes RFP360 has achieved since our initial investment,” said Thomas Kershisnik, managing director at Five Elms Capital. “It’s clear that RFP360 truly understands an underserved market, offering a unique platform that creates value for all sides of the process — groups that issue RFPs and other information requests and teams whose job it is to respond. We are excited to continue to partner with them and be a part of their growth.”
About RFP360
RFP360 develops software solutions that transform how organizations worldwide request information, respond to requests and connect — making the RFP and proposal process far more efficient, effective, collaborative, consistent and repeatable for everyone. Our complete approach covers every angle, from knowledge management and response automation to request development and vendor evaluation.
About Five Elms
Five Elms Capital is a leading growth investor in founder-owned software businesses that users love. Five Elms provides capital and resources to help companies accelerate growth and further cement their role as industry leaders. For more information, visit www.fiveelms.com