Toronto-based investor relations (IR) software company Q4 Inc. has received a $25 million credit facility from CIBC Innovation Banking.
Q4 plans to use the loan to support “continued scaling” of its team at a time when the COVID-19 pandemic has forced many Canadian tech companies to make layoffs. Q4 also plans to use the capital to improve its technology platform and to continue pursuing “inorganic growth opportunities.”
“The strategic importance of investor relations is made ever more apparent during challenging times.”
“We are excited to work with the team at CIBC Innovation Banking and appreciate its support as we execute on our mission of helping IR teams deliver strategic impact to their companies,” said Darrell Heaps, CEO of Q4.
“The strategic importance of investor relations is made ever more apparent during challenging times,” he added. “We are proud to have the backing of CIBC Innovation Banking and our other investors as we do everything in our power to help IR teams successfully navigate through to market recovery.”
Q4 is a leading global providers of cloud-based IR and capital markets solutions. Founded in 2006, Q4 has previously raised around $60 million USD overall, with its last round consisting of $35 million USD in Series C funding. The company’s Series B brought in $22 million in 2016.
Q4 touts itself as the IR industry’s only full-suite provider of investor relations solutions. Its offerings reach across websites, virtual events, corporate access, data and analytics, customer relationship management (CRM), and capital markets intelligence. According to the company, its software is used by 2,200 clients across Canada, the United States, the United Kingdom, and Europe.
Since Q4’s 2018 funding round, it has reportedly achieved “significant organic and inorganic growth,” including “strategic transactions” with Business Wire and S&P Global Market Intelligence.
The Toronto-based company’s previous investors include Napier Park Financial Partners, which led its Series C, as well as First Ascent Ventures and Information Venture Partners. Q4 has also been backed by OpenText Enterprise Apps Fund, Espresso Capital, and angel investors. With its headquarters in Toronto, Q4 also has offices in New York, Hamilton, Copenhagen, and London. According to its LinkedIn profile, Q4 currently employees around 340 people.
“Q4 provides an innovative and modern platform of tools that truly enables investor relations professionals,” said Mark Usher, managing director and North American team lead at CIBC Innovation Banking. “They have built a durable and growing company and we are very excited to work with their team.”
Q4 also recently launched a partnership with IR advisory firm Rose & Company, which will focus on helping public companies target and engage with institutional investors. Q4 will use its IR platform to help companies create stronger relationships with existing and potential shareholders. Through this partnership, the two companies will also focus on meeting companies’ investor access needs.