Kivuto Closes $7.6 Million Equity Financing Round - Investment will drive technology enhancements; worldwide customer growth plans
Kivuto announces a $7.6 million equity investment that will drive technology enhancements and worldwide customer growth plans.
OTTAWA, Ontario, Sept. 14, 2020 /PRNewswire-PRWeb/ -- Kivuto, a leading provider of academic digital resources, today announced they have closed a $7.6 million equity investment from existing shareholders, led by Roynat Equity Partners.
Kivuto is a leading provider of academic software, eTexts, and other digital resources for academic institutions and organizations worldwide. Software developers, book publishers, digital resource vendors, and academic institutions around the world rely on Kivuto to ensure the successful and secure delivery of digital products to eligible users.
This funding will enable Kivuto to continue to grow and expand their international client base, as well as to further advance the capabilities of their solutions.
"Kivuto has have been in this business for over 22 years, but what we have seen in the past few months has been unprecedented. With the increasing demand for remote learning and requirements for online resources, it is critical that we continue to advance our sales reach and the capabilities of our solutions to fulfill the growing demand and evolving requirements of our customers," said Blair Geddes, Chief Financial Officer at Kivuto. "This investment will allow us to accelerate advancements in our technology and effectively meet the needs of academic institutions and publishers around the world. We are delighted with this commitment from our existing shareholders, who share our view of the opportunity in the marketplace during this economically challenging time."
"Kivuto is one of the leaders in this ever-growing industry," said Mark Brodkin, Managing Director and Head of Roynat Equity Partners. "We have been impressed with their technology, and know that this investment will allow them to expand on this, as well as continue to grow their client base."
About Kivuto
Kivuto has been transforming the way schools distribute digital resources to students and faculty for over 22 years. Today, Kivuto streamlines the management and delivery of academic software, eTextbooks, cloud licenses, and all other types of digital resources for educational institutions. For more information, visit http://www.kivuto.com.
About Roynat Equity Partners
Roynat Equity Partners facilitates growth and creates wealth in established mid-market private companies by providing patient capital, advice and contact networks to Canadian entrepreneurs. With over $300 million in committed capital and offices across Canada, Roynat Equity Partners is dedicated to helping mid-market companies grow and achieve their business goals. Flexible investment structures are tailored to the needs of partners and include common equity, preferred equity, and convertible debt. Roynat Equity Partners is a division of Roynat Inc. which is a wholly owned subsidiary of Scotiabank.
SOURCE Kivuto
Share this article