Total amount raised
CA$263 Million
Latest funding date
3/1/2021
Location
Loopio has successfully raised funds through three distinct funding rounds, with the latest being a private equity round led by Sumeru Equity Partners. The company specializes in RFP response software, designed to streamline and enhance the proposal response process.
Investors backing Loopio include Sumeru Equity Partners and OpenView, reflecting strong confidence in the platform's potential. Keep reading to explore the intricacies of Loopio's fundraising journey and the investors supporting this innovative platform.
What Is Loopio?
Loopio, based in Toronto, Ontario, Canada, specializes in RFP response software designed to streamline and enhance the proposal response process. The company operates in the Knowledge Management, SaaS, Sales Automation, and Software industries.
Founded by a team whose names are not explicitly mentioned, Loopio has grown to employ between 251 and 500 people. The platform leverages AI to automate and improve the creation of RFP responses, ensuring accuracy and efficiency for enterprises across various sectors.
How Much Funding Has Loopio Raised?
- Seed Round
- Amount Raised: Not publicly disclosed
- Date: December 2014
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the development of Loopio's RFP response software and establish a market presence.
- Series A
- Amount Raised: $9 million USD
- Date: February 2018
- Lead Investors: OpenView
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate product development and expand the team, particularly in Sales and Engineering.
- Private Equity
- Amount Raised: $252 million CAD
- Date: March 2021
- Lead Investors: Sumeru Equity Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance the platform's capabilities.
Total Amount Raised: $261 million USD
Current Valuation: Not publicly disclosed
Key Investors
- Sumeru Equity Partners
- Details: Sumeru Equity Partners is a private equity firm that focuses on investing in high-growth technology companies. They have been involved in multiple funding rounds for Loopio, particularly in the private equity rounds.
- Investment Focus Areas: Technology, Software, Growth Equity
- Notable Investments: Not publicly disclosed
- OpenView
- Details: OpenView is an expansion stage venture firm that helps software companies grow into market leaders. They led Loopio's Series A funding round and have a history of investing in bootstrapped companies.
- Investment Focus Areas: Software, Expansion Stage, Growth
- Notable Investments: Auvik Networks, Loopio
What's Next for Loopio?
Loopio stands at the cusp of significant growth opportunities, driven by the increasing demand for efficient RFP response solutions. With a strong market position and a robust customer base, the company is poised to expand its product offerings and enhance customer experiences. The recent funding rounds have set the stage for Loopio to accelerate product development and scale its team, particularly in sales and engineering.
Future fundraising opportunities appear promising, given the successful Series A round and the strategic partnership with OpenView. As Loopio continues to grow, additional funding rounds could further fuel its expansion and innovation. However, the company may face challenges such as maintaining high customer satisfaction and staying ahead of competitors in the rapidly evolving RFP software market.
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