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Loopio Raises $9M USD in Funding to Fuel Growth

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Zakir Hemraj

Announcing our Series A

A message from Loopio's CEO:

Since starting Loopio, our team has been obsessed with building a world-class company. It’s an honor to lead this charge as Loopio’s CEO and to be surrounded by people who inspire me.

Today, we’re taking one massive step forward in our journey.

I am very excited to announce that Loopio has raised its first round of equity financing with OpenView Venture Partners.

OpenView is a leading venture capital firm that focuses on helping high-caliber, expansion stage software companies take their businesses to the next level. We’re very proud to be in their portfolio, joining notable companies like Workfront, Expensify, and Datadog.

The Loopio Story So Far

In 2014, Matt York, Jafar Owainati, and I set off on a mission to disrupt the industry by creating an RFP response solution that was powerful and also intuitive and user-friendly.

Having bootstrapped our way until now, we're very humbled and proud to see that Loopio has grown to over 300 amazing customers and an incredibly talented team of more than 50 Loopers. We've also established ourselves as a market-leader with very strong customer reviews on Capterra and G2 Crowd.

Best Ease of Use Capterra 2018, Capterra 4.5 star User Reviews, G2 Crowd "Users Love Us" badge, 4.5 stars on G2 Crowd, G2 Crowd High Performer Summer 2017

It’s been an incredible journey so far, and we couldn't have done it without our customers and our team.

The best part is that we're just getting started!

Our Journey Ahead

This round of funding will help fuel our growth by:

With this investment, we’ll maintain our customer-centric obsession and work harder on solving more of our customers’ challenges around responding to RFPs, RFIs, and Security Questionnaires.

Growing Our Team

A large part of our rapid growth has been fueled by our award-winning company culture. Our mission is to empower people to focus on what matters, and this is as true for our team as it is for our customers. It’s amazing to be surrounded by people who strive for personal growth, transparency, and making a difference for our customers every day.

The Globe and Mail & Morneau Shepell 2018 Employee Recommended Workplace Award and the Career Directory 2018 Award for Canada's Best Employers for Recent Graduates

Over the next 12 months, we plan to expand our team in Toronto by adding over 50 Loopers to our team. Learn about our current openings here.

I’m so proud of how far we’ve come, and I couldn’t be more excited for the future!

Zakir Hemraj, CEO and Co-founder of Loopio

Zak's Signature

News Release

Via PRWeb 

Loopio Raises $9M from OpenView to Fuel Growth

Leading RFP Software Streamlines the Way Enterprises Respond to RFPs, RFIs, and Security Questionnaires  

Loopio, the leading RFP response solution, today announced that it has raised $9 million USD in a Series A round of financing led by OpenView, the expansion stage venture firm. Loopio will use this investment to fuel growth by accelerating product development and expanding its team.

OpenView Partner Ricky Pelletier will join Loopio’s Board of Directors. “OpenView is thrilled to partner with Loopio as they head into this next phase of growth,” he said. “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.”

The traditional RFP response process is characterized by dispersed content, ineffective mediums of collaboration, and wasted time on manual and repetitive tasks. With Loopio’s RFP Software, enterprises are streamlining collaboration and saving time on responding to RFPs, RFIs, and Security Questionnaires.

Loopio has quickly solidified its lead in the Proposal Software market with very strong user reviews on Capterra and G2 Crowd. Over 300 organizations – including world-leading enterprises such as IBM, Thomson Reuters, Citrix, and Sprinklr – rely on Loopio.

Loopio will use the new funding to expand its team in Toronto and plans to hire over 50 people in 2018, with main growth occurring in the Sales and Engineering teams. Learn about current openings here.

About Loopio

Based in Toronto, Canada, 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. Since 2014, Loopio has empowered hundreds of Sales, Proposal, and Security teams across world-leading organizations, including Thomson Reuters, IBM, Netskope, Sprinklr, Citrix, and many more. Learn more about Loopio at www.loopio.com.

About OpenView

OpenView, the expansion stage venture firm, helps build software companies into market leaders. Through its Expansion Platform, OpenView helps companies hire the best talent, acquire and retain the right customers and partner with industry leaders so they can dominate their markets. Their focus on the expansion stage makes OpenView uniquely suited to provide truly tailored operational support to its portfolio companies. Learn more about OpenView at openviewpartners.com.

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