February 21, 2019 08:00 AM Eastern Standard Time
WASHINGTON–(BUSINESS WIRE)–GoCanvas, Inc., a leading provider of mobile applications and forms for data collection and sharing, today announced it has secured an investment of over $150 million from K1 Investment Management (K1). With the investment, GoCanvas will accelerate enhancements to the platform, scale global operations to meet increasing customer demand, increase brand awareness, and grow worldwide sales.
“We decided to partner with K1 because they are more than just a source of capital,” said James Quigley, CEO and Founder of GoCanvas. “First and foremost, we recognize a deep cultural alignment between GoCanvas and K1. They believe in our vision of helping customers ‘do more’ through workflow automation and data collection, and we both understand the importance of company culture to business success. Additionally, K1 has an impressive track record of helping growth-stage companies scale through its operations capabilities.”
GoCanvas’s platform provides mobile and tablet interfaces for filling out forms and collecting data, which is then stored online through a cloud model. Applications offered by the company allow businesses to simultaneously decrease paper usage, automate workflows, and operate more efficiently.
“Before implementing GoCanvas, we managed all our information through Excel spreadsheets and email, which really hindered the company’s growth,” said JB Haller, President and CEO at US Inspect, the leading residential inspection company in the United States. “After adopting GoCanvas, it didn’t take long to streamline a lot of the forms. The platform was easy to use and has saved the company thousands of hours of tedious labor and really gave us a competitive edge.”
Companies using GoCanvas’s platform span a variety of industries and include more than 6,000 total customers. Notable customers include Sprint, Red Bull, Post Consumer Brands, LendLease, The Co-operative Group, and the Mirvac Group, as well as thousands of other domestic and global organizations.
“K1 is excited to partner with GoCanvas as both of our organizations have closely aligned visions – to help businesses grow through improvements in productivity and automation,” said Neil Malik, Managing Partner and Founder of K1. “GoCanvas solves more than 20,000 use cases across a variety of industries, resulting in revenue tripling over the past two years. We look forward to helping James and his team fulfill this vision of empowering businesses to ‘do more’ for their customers.”
GoCanvas is a mobile platform that makes it simple for business to automate how work is done, replacing outdated processes and expensive paperwork. The GoCanvas App works on smartphones and tablets, helping companies to easily collect information, share it instantly with others and gain real-time insight of their business operations. GoCanvas can be easily customized by any type of business to empower their workforce, unleashing the value in data across the organization to help them connect better with colleagues and engage more effectively with customers.
GoCanvas is trusted by thousands of businesses throughout 70 countries, automating millions of workplace activities, making it one of the fastest growing mobile platforms in the world. To learn more, visit www.gocanvas.com.
K1 is a leading investment firm focusing on high-growth enterprise software companies globally. K1 seeks to help dynamic businesses achieve successful outcomes by identifying and executing organic and acquisition-based growth opportunities that position its companies as industry leaders. K1 typically invests alongside strong management teams that continue to guide their organizations on a day-to-day basis. K1’s investments vary in the level of ownership in order to meet the needs of entrepreneurs and managers. Representative past and present portfolio companies include industry leaders such as Apttus, Buildium, Certify, Checkmarx, ChiroTouch, Clarizen, Granicus, IronScales, Litera Microsystems, RFPIO, Smarsh and WorkForce Software. For more information about K1, please visit www.k1capital.com or https://www.linkedin.com/company/k1im.