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
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…