Strategic investment from Five Elms Capital comes with new CEO for RFP360
January 16, 2019 | Startland News Staff
A freshly announced strategic growth investment is expected to boost RFP360’s sales, marketing and product development, as well as paving the way for added leadership at the Kansas City-based tech startup.
Financial details of the deal with Five Elms Capital were not disclosed, but the move comes in conjunction with the arrival of former Perceptive Software executive David Lintz at RFP360, a cloud-based RFP software provider previously known as RFP365.
Click here for more about RFP360’s recent rebranding.
“The investment from Five Elms will allow us to develop innovative new technologies to help organizations overcome long-standing challenges,” said Lintz, now RFP360 CEO. “I’m looking forward to working closely with [founders David Hulsen and Stuart Ludlow], and the rest of the RFP360 team as we continue to support our valuable customers.”
Lintz most recently served as chief revenue officer for Tonic Health.
David Hulsen, RFP360
The infusion from Five Elms Capital reflects the investor’s commitment to fast-growing B2B software businesses that users love, the company said in a press release. RFP360 made headlines in 2018 for partnering with such firms as Lockton Companies to deliver streamlined RFPs, requests for information (RFIs), requests for quotations (RFQs), due diligence questionnaires (DDQs), and more to support strategic procurement and bidding processes.
“The RFP process is undergoing a desperately needed digital transformation,” said Hulsen, RFP360 co-founder and COO. “We take pride in offering solutions that address real needs for a large number of organizations.”
Co-founder Ludlow continues to serve as CTO.
Stuart Ludlow, RFP360
Five Elms sees those solutions as disruptive to a market that’s traditionally relied on outdated processes, said Thomas Kershisnik, managing director at the leading growth equity firm.
“RFP360 changes the way companies think about what has historically been a painful process by providing a unique solution that creates a competitive advantage for their customers,” he said. “Their offerings, company culture, and leadership set the stage for continued growth, and we’re very excited to partner with them as they make that journey.”
Offering the only full-circle RFP management solution designed for issuers and responders, RFP360 was selected as one of Startland’s Kansas City Startups to Watch in 2018.
Featured Business
2019 Startups to Watch
stats here
Related Posts on Startland News
Prepped for Phase 2: How a New Orleans-inspired caterer grew organically into a KC kitchen collective
Food is a way to bring communities together, share cultural traditions and teach individuals about the importance of a healthy, ethically-sourced meal, said Dr. Karen Patrice Boyd. “My passion is teaching. Yes, I produce great food. But at the end of the day, I can impact the community more in terms of their knowledge and…
Cafe Cà Phê returns to the West Bottoms with second location for KC’s popular Vietnamese coffee shop
A Cafe Cà Phê satellite location inside 12th Street Post in the West Bottoms is the perfect step for continuing the mission of Kansas City’s only Vietnamese coffee shop, shared founder Jackie Nguyen. Just shy of the one year anniversary of its Columbus Park space, Cafe Cà Phê celebrated the grand opening of its new…
She wanted to bring her favorite foodie magazine to KC; her mother’s sudden death put this publisher’s plans on the back burner
Lauren Cook’s passion for Edible Communities magazine drove her appetite to revive it in Kansas City, she shared, but an unexpected life change has her hoping to hand the publisher’s apron to someone else. Cook purchased the license to publish the city-specific food magazine — each independently run by publishers in metros across the country…
Digital Sandbox alum earns new round of funding — this time for sports tech; Meet the latest batch of just-funded startups
From making the college admissions process easier for students to summarizing books and podcasts using artificial intelligence, the latest startups to join Digital Sandbox KC are a great example of the creativity of this region’s entrepreneurs, said Jill Meyer. The four newly selected companies are expected to receive up to $20,000 in project funding and…