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
Go BTS of a new KC-filmed reality TV series with the entrepreneurs who matched competitors with their style
ULAH founders get second chance to put their business (and Kansas City) on the national stage One of Kansas City’s best-known fashion duos — married entrepreneurs Joey Mendez and Buck Wimberly — recently stepped back into the fast-paced world of reality TV as stylists for a new series featuring another KC personality who commands screen…
KC hat maker’s sales soar after national news spotlight, capping year with validation: Made-in-the-USA still sells
Santa came early for Sandlot Goods — in the form of an ABC World News producer, said Garret Prather. On Dec. 13, Kansas City’s only local hat manufacturer was featured on the “Made In America Christmas” segment on ABC World News Tonight with David Muir. “Forty-five workers, 10 new hires, and 115,00 hats this year,…
Stand out and stand tall: Father of Tech N9ne, two of KC’s favorite chefs inspired their drive from his Kansas City hair salon
Hassan Khalifah only had to look to his elders for entrepreneurial inspiration, he said. They were a family of bakers, moonshiners, salvagers, restaurateurs, grocers, pool hall operators, and nickel-and-dime candy shop owners. After a short time working for the city, Hassan opened several small businesses before a three-decade career as a salon owner. Four of…
Trendsetting Crossroads brewer taps another first: KC’s only locally-owned non-alcoholic beer
A star on the Kansas City craft beer is setting a new baseline for inclusivity on the local brewing scene, said Eric Martens, introducing the metro’s first hometown non-alcoholic beer — a product of months dedication and innovation, he added. Border Brewing Co. on Friday announced its new Baseline brew — a canned offering crafted…