Toronto-based Q4 Inc. has raised a fresh $38 million USD ($49.3 million CAD) Series C round.
The round was led by New York-based Napier Park, with participation from existing investors including OpenText Enterprise Apps Fund (OTEAF), Information Venture Partners, and Espresso Capital. Napier Park also participated in Toronto-based Touchbistro’s $72 million Series D round.
Q4’s last funding round was a $22 million Series B in 2016.
The company plans to use the funding to expand global sales and marketing and pursue strategic acquisitions.
“Q4’s mission is to make our clients leaders in investor relations by delivering a superior product experience, best-in-class technology and first-rate customer support,” said Darrell Heaps, CEO of Q4. “We are excited to partner with the Napier Park team during this incredible period of growth for Q4. This capital will enable us to accelerate our product roadmap, pursue acquisitions, drive our global sales and marketing efforts, and continue executing on our vision of becoming a preeminent global capital markets platform.”
Q4 builds investor relations solutions that cover analytics, CRM, webcasting, and professional services. Investors can use Q4 to access analyst insights, trade monitoring, and live data on institutional trading, stock price fluctuations, and relative performance. The company plans to use the funding to expand global sales and marketing and pursue strategic acquisitions.
“Having led Q4’s Series B round, we have witnessed the tremendous growth of the company, and the evolution of Darrell and his team in the execution of their strategy,” said Tony van Marken, general partner at OTEAF and chairman of Q4. “Q4 has continued to expand its customer base with some of the world’s largest public companies and now provides IR solutions to 25 percent of the S&P 500. With the macro trends benefiting the market and material shifts in their competitive landscape, we are excited to participate alongside Napier Park in this round and to continue to support Q4 in executing against their vision of growing into a dominant global capital markets platform.”
Dan Kittredge and Ned May from Napier Park will join the Q4 board of directors.