Loopio, a Toronto, Canada-based provider of a Request for Proposal (RFP) response software platform, received a $200m (USD) strategic investment.
Backers included Sumeru Equity Partners (SEP) and Affiliates.
The company intends to use the funds to accelerate product development, customer acquisition, and hiring.
Founded in 2014 by Zak Hemraj (CEO), Matt York (CTO), and Jafar Owainati (former CRO), Loopio provides a software provider that allows companies to streamline their response process for RFPs, DDQs, and Security Questionnaires. It is used by 1,000+ companies to streamline their RFP response process, improve sales efficiency, and surface growth opportunities. Users include brands like DocuSign, Siemens, and McGraw Hill.
By the end of 2021, Loopio plans to expand its employee base from 165 to more than 200 people. Hiring efforts will be focused on recruiting talent in the areas surrounding Loopio’s Toronto headquarters and in regions across North America as well.