Toronto’s Q4, a SaaS investor relations and capital market solutions company, has raised $22 million in Series B financing
The round brings the Canadian company’s total amount to $30 million.
The round was led by OpenText Enterprise Apps Fund, Information Venture Partners, and HarbourVest Partners along with Emerillon Capital, and Kensington Capital Partners. Series A investors Plaza Ventures and Accomplice also participated.
Q4 says the funding will go towards expanding its engineering, sales and marketing teams.
“We are delighted to lead this round,” said Richard Black, General Partner at the OpenText Enterprise Apps Fund. “Our investment in Q4 reflects our belief in the tremendous market potential for their technology and management’s ability to execute on their vision. With over 600 top tier customers Q4 has demonstrated their ability to deliver value to the most demanding companies on a consistent basis.”
The company is focused on applying artificial intelligent methods such as machine learning and natural language processing to provide real-time insights on institutional trading, market sentiment, volatility and investor activism.
“Over the last 10 years, the market has become more complex and opaque than ever before. Alternative trading systems, dark pools and high frequency trading have created a challenging environment, making it almost impossible for corporates and investors to understand what is happening within the global financial markets,” said Darrell Heaps, CEO of Q4 Inc. “Our products bring simplicity to this problem and help companies better understand the market, manage investor engagement and communicate with the street.”
“There has been very limited innovation in investor relations technology. Q4 is at the forefront of adopting and developing new technologies, changing the user experience for its communications customers and redefining intelligence methodologies to provide better insights to IROs, CFOs and CEOs,” said Robert Antoniades Co-Founder and General Partner of Information Venture Partners.
2015 was a “watershed year” for Q4, generating record client & ARR growth and executing on Company’s product suite expansion.
“As we expand our presence in Canada, HarbourVest is excited to partner with Q4 in this next stage of its growth path,” commented David Zug, Vice-President, HarbourVest Partners. “This dynamic team and technology are poised to continue to transform the way public companies engage their shareholders.”
“We are excited to partner with Q4 at this critical inflection point in its growth,” said Raghu Bharat, Investment Manager at Emerillon Capital. “As demonstrated by their remarkable growth, this round of funding will help Q4 capitalize on global demand for their solutions, and accelerate the company’s pace of product innovation.”
Q4 has over 150 employees in offices in Toronto, Chicago and New York.