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Five Elms sees those solutions as disruptive to a market that’s traditionally relied on outdated processes, said Thomas Kershisnik, managing director at the leading growth equity firm.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
It’s the ultimate stash: How an exclusive cannabis collaboration is bringing smokeware out of hiding
Working with acclaimed fashion designer Whitney Manney is a bucket list collaboration, shared Wandering Bud founder Riley Brain. The handmade ceramic smokeware maker has teamed up with the KC-based fashion label WHITNEYMANNEY to create a limited edition collection of cannabis accessories and stash bags. “I’ve always just really admired Whitney’s work and aesthetic,” Brain said.…
Just funded: Four new Digital Sandbox KC companies scaling products beyond survival mode
Freshly announced funding from Digital Sandbox KC is expected to help four Kansas City startups scale their innovations to market with additional access to investors, resources and a growing network of fellow entrepreneurs. Among the first-quarter Sandbox recipients, Basehor-based Mpruv Sports plans to use the new backing as it releases a series of peer-to-peer, on-demand,…
UMKC pitch contest returning with $90K in prizes; spots remain for emerging startups
The 2023 edition of the Regnier Venture Creation Challenge (RVCC), an annual pitch competition hosted by UMKC, is expected to award $90,000 in equity-free funding to student entrepreneurs and Kansas City businesses. Ben Williams, managing director at the Regnier Institute for Entrepreneurship and Innovation, shared his excitement for this year’s event — set for April…
He’s building a more welcoming (and eco-friendly) KC, but this entrepreneur’s vision comes with a catch: It isn’t a one-man job
Reda Ibrahim’s home is open to everyone, he shared, especially for those who feel like they don’t belong anywhere. “I have a big magnet toward everyone who doesn’t fit in. I faced a lot of racism; I have faced the struggle to be accepted. [When I came to the United States] seven, eight years ago,…