Canadian startup, QuickMobile, has just announced that it has received $3.2 million of funding from BDC IT Venture Fund and Vancity. The Vancouver based firm will utilize the fresh injection of cash to help it expand into international markets while adding talent that will help further develop its new multi-event mobile app platform. The latest cash comes from investors that already have stakes in the firm. Previously, Vancity and other angel investors closed a $2.6 million investment round in 2011. This was followed by $3.3 million from BDC IT Venture Fund in 2012. QuickMobile has been hiring several senior staff members and has recently expanded its marketing, services, and product management teams with new faces.
Patrick Payne, CEO of QuickMobile, made a statement on the occasion, “We are fortunate to have investors that share our vision and recognize the opportunity before us. Our revenues are growing exponentially year over year, and the demand for our multi-event platform is more than 10 times what we expected, with all of it coming from Fortune 1000 companies. It was clear we needed an infusion of additional capital to execute on our enterprise strategy, and a significantly higher valuation from the last round made it feasible. With a growing partner channel, a number of new products in development and tremendous enthusiasm for our multi-event platform, we need to add resources quickly. This is an exciting time for our company, and the support of BDC, Vancity and other private investors will allow us to meet our growth requirements, and continue to innovate and expand.”
QuickMobile got its start in 2006 and added the Multi-Event Platform in 2012 which has led to rapid growth. Payne talked about the new service and said, “We recognized a void in the marketplace for an enterprise-grade mobile event technology platform that allows companies to develop fully customized, fully branded meeting apps for any and all of their events. QuickMobile’s multi-event platform allows organizations to connect with their employees, customers, partners and other stakeholders in new and engaging ways. Our investors recognize this and fully support our innovation and expansion plans.”
Andrew Lugsdin, a Partner at BDC IT Venture Fund, stated that, “During the last several months, we have watched intently as QuickMobile has exceeded its own expectations, adding new employees, customers and partners at an accelerated rate. The increasing demand for the company’s technology illustrated the need for additional resources in order to keep pace, and we are excited to be a part of the growth. We see QuickMobile as a current and future success story for its investors and for Canada, and we are committed to seeing them through this critical stage of the business.”
Source: TechVibes, QuickMobile
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