QuickMobile Secures $3.3 Million in Funding Led By BDC IT Venture Fund

Share Article

Company to use investment for rapid expansion and innovation

Quickmobile provides custom meeting apps for global brands including Fortune 500 companies

Mobile is a huge, emerging space, from major advances in devices to the mobile apps that are targeted to the enterprise. Among the industry’s innovators is QuickMobile. - Andrew Lugsdin, BDC IT Venture Fund

QuickMobile, the leading provider of mobile solutions for meetings and events, today announced that it has closed on a $3.3 million round of funding. The investment, led by the BDC IT Venture Fund with additional contributions from Vancity and angel investors, will help QuickMobile to continue its rapid international expansion, strengthen its infrastructure, boost marketing efforts and advance the development and launch of new products and services. As a result of the investment, Andrew Lugsdin, partner with BDC IT Venture Fund, will join QuickMobile’s board of directors. This funding follows $2.6 million of equity investments received in 2011 from angel investors and Vancity, Canada’s largest credit union.

REASONS FOR OPTIMISM

In September, QuickMobile announced that it is on pace for 400 percent growth while downloads of its custom meeting apps have surpassed one million in early 2012. QuickMobile’s growth is coming from a strong demand from Fortune 500 customers and a growing partner channel, which added 15 new reseller and referral partners so far this year. The company also recently added its 100th employee and expanded its company headquarters in Vancouver.

“Mobile is a huge, emerging space, from major advances in devices to the mobile apps that are targeted to the enterprise,” said Lugsdin. “Among the industry’s innovators is QuickMobile, which has a market-leading, proven solution that is used by a growing number of Fortune 500 companies. QuickMobile is led by a passionate and experienced team, which has identified significant market opportunities that will allow the company to continue to innovate and grow. BDC IT Venture Fund is excited to be a partner on this journey.”

MOBILE TRANSFORMING MEETINGS AND EVENTS

In 2012, the number of mobile connected devices surpassed the total population of the earth. According to recent studies, 69% of Internet users access the web through mobile devices and more than a third of the total U.S. population has downloaded apps. Within the meeting and events industry, more than 80 percent of professionals are using mobile devices for their jobs, yet estimates are that less than 10% of all meetings provide mobile apps for their attendees.

With more than 1.8 million events in the United States alone, QuickMobile President and CEO Patrick Payne sees huge potential for growth for his company.

He stated, “It’s evident that mobile technology is impacting all aspects of our lives and is also transforming the event industry with its inherent capabilities to connect and engage. BDC IT Venture Fund is a major venture capital investor in Canada, and its investment team understands the market opportunity for QuickMobile and fully supports our approach to lead the industry in flexibility, scale, reliability, innovation and technology. With this investment, we will further expand our focus on Fortune 1000 companies, advance our ability to provide leading-edge solutions to the industry and increase our global sales and support footprint.”

ABOUT QUICKMOBILE
QuickMobile works with meeting owners and organizers to develop fully branded mobile apps for meetings that serve as catalysts for year round conversations with constituents. QuickMobile Mobile Event 2.0 solutions create always-on communications channels that allow event owners to extend their brand and interaction with customers, partners, stakeholders and employees beyond the days and locations of an event. By fully leveraging the capabilities of mobile technology, QuickMobile helps customers increase meeting engagement, extend strategic planning, improve branding, and drive sales and marketing while making communications more effective and sustainable. QuickMobile’s head office is located in Vancouver, Canada. For more information, visit http://www.quickmobile.com. Follow QuickMobile on Twitter @quickmobile.

ABOUT BDC IT VENTURE FUND

The BDC IT Venture Fund is a Canadian venture capital fund with partners in Toronto, Montreal, Vancouver, and Ottawa. We actively invest in early stage IT companies with passionate entrepreneurs who think big and will disrupt existing industries or create entirely new markets. Entrepreneurs come first and we use our broad network and operational backgrounds to help companies grow into global leaders. We lead the majority of our investments, which are typically early stage start-ups (late seed and series A) focused on Enterprise, Internet, or Mobile. The fund has invested in many successful companies including Radian6 (acquired by Salesforce), Opalis (acquired by Microsoft), Bycast (acquired by NetApp), and Q1 Labs (acquired by IBM). For more information http://www.bdc.ca.

###

Media Contact:
Kevin Wilson
Cross Border Communications
+1-513-898-1008
kevin(at)crossborderpr(dot)com

Share article on social media or email:

View article via:

Pdf Print

Contact Author

Kevin Wilson
Follow us on
Visit website