RFPIO

RFPIO
Privately Held
Industry Cloud Computing - Software
Founded 2015
Headquarters Beaverton, Oregon
Key people
 Ganesh Shankar, CEO; AJ Sunder, CIO; Sankar Lagudu, COO; Manish Bafna, VP of Technology; David Blume, Senior Sales Director
Services Cloud-based request for proposal (RFP) automation software
Number of employees
 50
Website www.rfpio.com

RFPIO (RFPIO, Inc.) is a privately owned developer of cloud-based software that automates and streamlines the process of responding to a request for proposal (RFP) based in Beaverton, Oregon. The company also maintains a development office in Coimbatore, India.[1] Founded in 2015, the company has expanded rapidly and now has hundreds of customers and more than 11,000 users.[2]

History

The company was founded in 2015 by Ganesh Shankar, AJ Sunder, and Sankar Lagudu to streamline RFP processes for mid-to-large enterprises.[3] RFPIO was formed in response to the problems Shankar and his colleagues experienced gathering information and compiling responses for RFPs and being unable to find a suitable automation solution. By developing a cloud-based proposal management system, Shankar aimed to simplify and automate the RFP process and make it easier for cross-functional teams to collaborate.[4][5]

The company has since experienced rapid growth and now has 50 employees in Oregon and India and expects to double or triple its workforce by 2019.[6]

Financing

RFPIO’s first round of funding was secured in 2016 through Portland-based investment firm Elevate Capital and from the angel investment group TiE Oregon.[7] In October 2016, RFPIO received $100,000 at the Bend Venture Conference for the company’s performance in the Growth Stage competition. In December 2016, Stephen Marsh, founder of Smarsh, whose company was an early customer of RFPIO, invested $500,000 in the company through his investment vehicle Archivist Capital.[8]

In July 2018, the company secured a $25 million funding round from private equity firm K1 Investment Management to accelerate growth and cashed out some of its early investors.[6][9]

Services

RFPIO’s cloud-based software incorporates artificial intelligence, project management and collaboration capabilities and integrates with common sales management applications to help companies respond to RFPs. Companies using RFPIO include Adobe, Britannica Digital Learning, DTI Global, Google, LinkedIn, ServiceNow, Smarsh, Zapproved, Zoom and others from across multiple industry segments.[2][8]

See also

References

  1. ↑ Spencer, Malia (November 6, 2017). "A technology built on a simpler requeest". Portland Business Journal. Retrieved 2018-08-07.
  2. 1 2 Soper, Taylor (July 24, 2018). "RFP response automation software startup RFPIO raises $25M". Geek Wire. Retrieved 2018-08-07.
  3. ↑ Newberry, Skip (July 30, 2018). "Elevate Capital talks RFPIO investment, fall event for minority entrepreneurs". Portland Business Journal. Retrieved 2018-08-07.
  4. ↑ Spencer, Malia (September 30, 2016). "Beaverton startup plans to add jobs after landing $1.5M". Portland Business Journal. Retrieved 2018-08-07.
  5. ↑ Newberry, Skip (March 28, 2016). "Beaverton startup wants to fix the RFP process". Portland Business Journal. Retrieved 2018-08-07.
  6. 1 2 Rogoway, Mike (July 24, 2018). "Beaverton startup RFPIO raises $25 million, plans to triple its staff". The Oregonian/OregonLive. Retrieved 2018-08-07.
  7. ↑ Rogoway, Mike (September 30, 2016). "Beaverton startup RFPIO closes $1.5 million investment". The Oregonian/OregonLive. Retrieved 2018-08-07.
  8. 1 2 Newberry, Skip (May 30, 2017). "RFPIO gathers local investors and customers as it keeps growing". Portland Business Journal. Retrieved 2018-08-07.
  9. ↑ Kang, Jaewon (July 24, 2018). "Rfpio Secures $25 Million From K1 Investment". Wall Street Journal. Retrieved 2018-08-07.
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