Five Elms Capital doubles down on RFP360, bringing its investment to $12M
March 16, 2020 | Startland News Staff
RFP360 proved its worth and ability to push itself in the months following Five Elms Capital’s first investment in the software platform, said Thomas Kershisnik.
RFP360’s elevator pitch: We develop 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.
The payoff? Five Elms today announced a second strategic growth investment in RFP360 — bringing its total backing of the Leawood-based startup to $12 million, said 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,” he said. “We are excited to continue to partner with them and be a part of their growth.”
Click here to check out the firms on Startland News list of Kansas City’s Top Venture Capital-Backed Companies in 2019.
RFP360, plans to use the funds to support ongoing expansion of the product development, marketing and sales teams.
The investment comes a year after the first round of funding from Five Elms, a leading growth investor in founder-owned software businesses, which came in conjunction with the hiring of David Lintz as chief executive officer.
In 2019, RFP360 also expanded its executive leadership team by adding Beau Wysong as chief marketing officer and most recently Ryan Townsend — co-founder and former CTO of PayIt — as chief technology officer, as well as moving its global headquarters to Leawood after more than doubling its headcount.
David Lintz, RFP360
Click here to read more about RFP360’s acceleration.
“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.”
RFP360 — founded by David Hulsen and Stuart Ludlow and previously known as RFP365 — was named one of Startland News’ Kansas City Startups to Watch in 2018.
Featured Business
2020 Startups to Watch
stats here
Related Posts on Startland News
Pitch locally or look to outsiders? How founder bias toward funding at all costs could leave your distracted startup without a why
Kansas City’s funding gaps often feel deeper for women entrepreneurs, two top founders said Tuesday, describing a startup ecosystem that pits emerging entrepreneurs against each other — but perhaps more critically, against time — in a highly competitive fight for a limited amount of local capital. “Kansas City is very startup friendly — at least…
KC-built Buzz acquired by Vegas tech company hoping to solve AI’s ‘last mile’ challenge in property management
A leading property tech company is placing its bet on the Kansas City-built rent collections platform that Buzz brings to the table, announcing the AI-driven startup’s acquisition Tuesday by Las Vegas-based Pay Ready. The potential for artificial intelligence’s use in an industry historically is limited by the way tech collides with humans, said serial entrepreneur…
Still in the game: 16 startups advance in Kansas pitch tournament; courting a new style of seed funding
WICHITA — And then there were 16. Monday’s pitch competition announcement served up sweet news for more than a dozen Kansas startups as local founders learned they’re advancing in the Gamechangers & Champions “Bracket Bash for Innovators and Angels” — a tournament-style event set to end with a $20,000 grand prize. The just-released list of…
Trio adds Asian fusion to KCK culinary cluster; new BYO ramen, poke spot opens by May
This little strip in Kansas City, Kansas, boasts some of the metro’s favorite restaurants: Joe’s Kansas City Bar-B-Que, 1889 Pizza Napoletana, and Gus’s World Famous Chicken. Lulu’s Thai Noodle Shop is just down the street in Westwood. Now an Asian fusion restaurant is joining the mix. Sannin — poke, sushi and ramen — plans to…