Igloo Software, a Kitchener, Waterloo-based provider of digital workplace solutions, raised a US$47m (CAD$60m) growth equity investment.
Frontier Capital, a Charlotte-based growth equity firm focused exclusively on software and tech-enabled business services companies, made the investment. In conjunction with the funding, Andrew Lindner, co-founder and managing partner at Frontier Capital, Frontier vice president Dave Pandullo and Frontier Growth Partners’ Bob Froetscher, will be joining the Igloo board.
The company intends to use the funds to expand its sales and marketing operations, expanding distribution channels, strengthening its global partnership with Microsoft, and further accelerate its presence in the North American market.
Led by Dan Latendre, Founder & CEO, Igloo provides digital workplace solutions for employee communication, collaboration, knowledge management, employee engagement, and culture.
In 2017, the company expanded its global presence to 80 countries, surpassed one billion monthly interactions on its digital workplace platform, achieved 79% year-over-year growth in the third quarter, and added more than 190 new customers to its base of enterprise accounts that includes top brands across healthcare, hi-tech, financial services, retail, hospitality, and not-for-profit.