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
Five years after being built, dream spot on streetcar line finally brewing opening date, tavern owner says
A never-opened space along the KC Streetcar line in the Crossroads — once planned as high-profile culinary destination — is expected to be remodeled by the owner of a popular brewery and restaurant chain with its long-awaited opening as soon as late summer. Matt Moore, the entrepreneur behind Martin City Brewing Company and Martin City Tavern,…
Meet the Kansas City entrepreneurs picked for DoorDash’s first Midwest accelerator
DoorDash delivers $50K bag to 10 KC small biz leaders hungry to learn DoorDash is dropping support on Kansas City’s doorstep through a new cohort of 10 small businesses selected for the company’s local restaurant accelerator, marking the first time the nationwide initiative has landed in the Midwest — with KC chosen as its launchpad.…
Not a college student anymore: Entrepreneur’s origami-inspired bags fold functionality into professional fashion
Editor’s note: The following story was produced through a paid partnership with MOSourceLink, which boasts a mission to help entrepreneurs and small businesses across the state of Missouri grow and succeed by providing free, easy access to the help they need — when they need it. ST. LOUIS — Founded in 2018 by Lisa Hu,…
First came baby, then the boutique; 18 years later, this owner is the mother of retail survivors
Opening her storefront at the age of 23 with a newborn daughter, Meagan Doyle faced double duty as a first-time mother and budding entrepreneur. Eighteen years later, her baby is now grown — and Mom is coming into her own as a retail survivor and seasoned business owner. “It’s been a fun adventure,” said Doyle,…