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
Report: AI could displace 110,000 Kansas City jobs; here’s who might be most at risk
Editor’s note: This story was originally published by Kansas City PBS/Flatland, a member of the Kansas City Media Collective, which also includes Startland News, KCUR 89.3, American Public Square, The Kansas City Beacon, and Missouri Business Alert. Click here to read the original story. In 2020, when Terrence Wise learned the McDonald’s where he worked would be…
PHKC earns more state funding for 811 Retail Incubator; MTC boosting small biz
Another round of financial support from the Missouri Technology Corporation proves state economic development leaders understand that innovation also runs along main street, said Dan Smith. The Porter House KC — which just opened its 811 Retail Incubator in late July — is among seven entities just awarded a total of $1.8 million in Physical Infrastructure…
MTC just awarded $2.6M in investments; three KC tech startups earn state backing
As Advoteck works to bring its app to market later this year, an equity investment from the Missouri Technology Corporation is expected to help the Kansas City-based startup expand its reach nationwide in the fight against cyber crime. MTC on Tuesday announced $2.6 million in investments across seven Missouri companies — primarily focused on fostering…
KC Chamber, businesses: We won’t back down from DEI initiatives; city’s top diversity advocates honored
LeAna Flores knows those three little letters — DEI — can trigger a lot of people these days, she said. “For me, as a DEI (Diversity, Equity and Inclusion) practitioner, I live and breathe by this quote — especially in the climate that we have right now — ‘They tried to bury us, but they…