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
KC job fair explores how AI can be a tool for women job seekers, not another workforce threat
For women competing within today’s hiring landscape — an environment riddled with opportunities and challenges linked to artificial intelligence — it’s critical to master cutting-edge job application tools, said Erin Cole. “It’s about accessibility,” said Cole, chief development officer for Women’s Employment Network (WEN), a partner of the OneKC for Women alliance. “WEN is built…
EquipmentShare launches new flagship store with $21M investment in Grain Valley
A Missouri unicorn is building impact even closer to Kansas City, opening its new 49,000-square-foot Midwest hub for construction and industrial work in eastern Jackson County. The project reflects an investment of more than $21 million by Columbia, Missouri-based EquipmentShare, said Jabbok Schlacks, CEO and co-founder, describing the property costs, value of equipment and salaries…
KC GIFT’s $100K grant — its largest-ever — aims to help boost Black-owned job creator
A newly opened $100,000 grant represents a significant step in Kansas City GIFT’s mission to close the racial wealth gap — investing in Black-owned businesses that have the potential to become significant employers and economic drivers in their communities, said Brandon Calloway. “We exist to right the wrongs of the past and create the economic…
They just wanted someone to notice: 10 years (and an exit) later, the first founders featured in Startland News have come 360
Editor’s note: Startland News — officially launched May 4, 2015 — is marking its 10-year anniversary this spring. As part of this observance, the nonprofit newsroom is taking a look back at pivotal moments in its decade-long run, as well as impact along the way. Longtime editor-in-chief Tommy Felts caught up with Stuart Ludlow and David…