RFPIO Secures $25 Million from K1 Investment Management to Revolutionize Proposal Management Industry
Jul 24, 2018
BEAVERTON, Ore., July 24, 2018 /PRNewswire/ — RFPIO, a leader in cloud-based RFP (Request for Proposal) response software, announced it has secured $25 million from K1 Investment Management (K1). With the investment, RFPIO will accelerate product development and scale operations to meet increasing enterprise demand for innovative, market-leading proposal management software.
Leveraging the industry’s first artificial intelligence (AI) enabled solution, RFPIO is changing the way organizations fulfill business proposals including RFx (RFP, RFI, etc.), security questionnaires and statements of work (SOW). The mission critical, easy-to-use and feature-rich software optimizes the proposal response process through collaboration, centralized content, technology integrations and reporting.
Companies using RFPIO’s platform span a variety of industries and include more than 10,000 active enterprise users. Notable customers include Google Cloud, Adobe, Atlassian, Change Healthcare, Informatica, LinkedIn, ServiceNow, Siemens, Tenable and Zoom Video as well as hundreds of other organizations across the world.
“We are impressed by how easy it was to adopt RFPIO and scale the platform to our global needs,” said Susan Stein, Senior Proposal Manager of AMS Global Proposal Services at ServiceNow. “We immediately drove efficiencies in our RFP response process, taking the program to a new level with RFPIO.”
“RFPIO has been a game-changer for our RFP process at SHI,” said Dr. Lori Coffae, Technical Content Writer at SHI International Corp. “During the time that we’ve been using RFPIO, our Public Sector team has substantially increased our efficiency and improved deal progression. The platform is incredibly user-friendly, and the addition of artificial intelligence to the knowledge base allows it to learn and evolve the more we use it. RFPIO, in conjunction with the extraordinary support provided by their staff, provides us with new and valuable insights into our RFP process, enabling us to achieve outstanding results.”
Ganesh Shankar, co-founder and CEO of RFPIO, is optimistic about the opportunities ahead for the company. “The foundational elements for RFPIO’s continued success are in place, from our dedicated employees to our enthusiastic customers and the cutting-edge technologies that we’re bringing to the market,” he said. “A strategic partnership with K1 and its operations capabilities will be incredibly valuable as we scale up to meet increasing enterprise demand and accelerate our investment in engineering, AI, and analytics.”
“RFPIO’s unique technology has raised the bar on what users expect from proposal response software,” said Hasan Askari, Managing Partner at K1. “We’ve seen the company more than triple its customer base and revenue and have tremendous confidence in management’s long-term vision. We look forward to partnering with the RFPIO team and leveraging our enterprise software expertise to drive the company’s next phase of growth.”
RFPIO’s proposal management platform, the industry’s first AI-enabled solution, is trusted by companies around the world and across industries to facilitate a more efficient RFx response process. The solution’s dynamic answer library provides centralized content and a collaboration hub. Robust, bi-directional integrations with many popular solutions, along with an open API, allow teams to connect instantly to people and content. Built by a team with extensive experience in RFP response, RFPIO is an easy-to-use solution that makes RFP response efficient and effective. RFPIO works with many enterprise organizations, such as Google, Adobe, Atlassian, Change Healthcare, LinkedIn, ServiceNow, Siemens, Tenable, Zoom Video and others. For more information, visit rfpio.com or follow @rfpioinc on Twitter.
About K1 Investment Management
K1 is an investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. For more information about K1, please visit k1capital.com.