GoCanvas secures more than $150M from K1 Investment Management - Technical.ly DC

Business

Feb. 22, 2019 11:25 am

GoCanvas secures more than $150M from K1 Investment Management

Weeks after reports of the deal were shared by the Washington Business Journal, the companies have confirmed the funds will be used to bolster GoCanvas' platform, expand global operations, increase brand awareness and grow worldwide sales activities.
GoCanvas CEO and founder James Quigley.

GoCanvas CEO and founder James Quigley.

(Photo via Twitter)

Reston, Va.-based software company GoCanvas, which offers a platform for mobile forms, apps and work processes, has landed an investment deal valued at more than $150 million from California-based private equity firm K1 Investment Management, a press release states.

Previous reports stated that the software company was acquired by K1, who took over majority ownership. Weeks after the deal was first reported by Washington Business Journal, the companies have confirmed the funds will be used to bolster GoCanvas’ platform, expand global operations, increase brand awareness and grow worldwide sales activities. This use of the funds aligns with GoCanvas CEO and founder James Quigley‘s plan to grow GoCanvas more quickly by doubling the size of the company in the next two years through expanding its sales and marketing teams.

“We decided to partner with K1 because they are more than just a source of capital,” Quigley said in a statement. “They believe in our vision of helping customers ‘do more’ through workflow automation and data collection, and we both understand the importance of company culture to business success. Additionally, K1 has an impressive track record of helping growth-stage companies scale through its operations capabilities.”

GoCanvas has a portfolio of more than 6,000 customers, including Sprint, Red Bull, Post Consumer Brands, LendLease and more. As the software company expands, Quigley will still lead the 165-employee team from the Reston office.

“K1 is excited to partner with GoCanvas as both of our organizations have closely aligned visions – to help businesses grow through improvements in productivity and automation,” Neil Malik, managing partner and founder of K1 said in the press release. “GoCanvas solves more than 20,000 use cases across a variety of industries, resulting in revenue tripling over the past two years. We look forward to helping James and his team fulfill this vision of empowering businesses to ‘do more’ for their customers.”

Advertisement

-30-
CONTRIBUTE TO THE
JOURNALISM FUND

Already a contributor? Sign in here
Connect with companies from the Technical.ly community
New call-to-action

Advertisement

Sorcero secured a spot in a West Coast-based accelerator

Localized closed on a $1.2M funding round

CIT Gap Funds invests in Charlottesville, Va.-based Babylon Micro-Farms

SPONSORED

DC

Verizon is looking for the brightest ideas on how to use its 5G technology

Philadelphia, PA

Vistar Media

QA Engineer

Apply Now

Washington, D.C.

The Washington Post

Scrum Master

Apply Now

Washington, D.C.

The Washington Post

Software Engineer

Apply Now

DC’s Q2 venture capital dollars increased by 45% compared to last quarter

CTA picks first two funds it will invest in as part of a larger diversity and inclusion commitment

This Virginia-based satellite startup just secured $5.2M in seed funding

SPONSORED

DC

Escape the August heat with cool AI tech

Philadelphia

Vistar Media

Sr. Software Engineer

Apply Now

Philadelphia

Vistar Media

Front End Engineer

Apply Now

Philadelphia, PA - Center City

Odessa

Business Architect

Apply Now

Sign-up for daily news updates from Technical.ly Dc

Do NOT follow this link or you will be banned from the site!