QuickMobile made public on earlier this week that it had closed a successful round of funding that raised $3.3 million for their event management start-up. The Vancouver based company offers mobile solutions for users that are having problems managing meetings and events of all sizes and types. The latest cash injection follows $2.6 million of funds that were raised in 2011.
The latest round was led by BDC IT Venture Fund along with Vancity and several angel investors who have not been listed in the press release. As part of the deal, Andrew Lugsdin, who is a partner at BDC IT Venture Fund, will become a member of the board of directors for QuickMobile. According to the company, the cash will help the firm “continue its rapid international expansion, strengthen its infrastructure, boost marketing efforts, and advance the development and launch of new products and services.”
The Canadian firm has been quite successful and has experienced rapid growth since it was founded. QuickMobile released details in September 2012 that stated the company had experienced 400% growth, had already reached one million downloads of its meeting app and hire 100 employees while also collecting some hardware along the way.
BDC IT Venture Fund’s Lugsdin went on to explain why his firm invested in the start-up by saying that, “Mobile is a huge, emerging space, from major advances in devices to the mobile apps that are targeted to the enterprise. Among the industry’s innovators is QuickMobile, which has a market-leading, proven solution that is used by a growing number of Fortune 500 companies. QuickMobile is led by a passionate and experienced team, which has identified significant market opportunities that will allow the company to continue to innovate and grow. BDC IT Venture Fund is excited to be a partner on this journey.”
QuickMobile CEO, Patrick Payne, gave details of how the new funds would be used when he stated that, “It’s evident that mobile technology is impacting all aspects of our lives and is also transforming the event industry with its inherent capabilities to connect and engage. BDC IT Venture Fund is a major venture capital investor in Canada, and its investment team understands the market opportunity for QuickMobile and fully supports our approach to lead the industry in flexibility, scale, reliability, innovation and technology. With this investment, we will further expand our focus on Fortune 1000 companies, advance our ability to provide leading-edge solutions to the industry and increase our global sales and support footprint.”
Source: TechVibes
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