A startup in Beaverton that has software which helps its clients to seek out large contracts, RFPIO, recently announced that it will be expanding with the raising of $25m.
The steady growth in the state’s economy has led to many large investments in technology companies in Oregon. However, the new investment in RFPIO is distinctive in that by the standards in Oregon, it is a large amount of money for a new company.
RFPIO was launched two years ago and has 50 employees. About half are located in its headquarters in Beaverton and the rest are in an office in India. The money that the company has raised will enable it to double or triple its workforce over the next year.
Ganesh Shankar, chief executive officer of the company, commented about his optimism for the company. LinkedIn, Siemens, and Adobe are clients of the company, as are other companies in Oregon including Viewpoint Construction Software and Smarsh. Shankar is planning to keep the corporate headquarters in Beaverton.
K1 Investment Management, a private equity company from California, provided the funding. K1 will have a minority stake in the company and will buy out the funding of some firms who invested early.
When such major investments are made in companies, they can look to Corporate Gifts as a way to show their appreciation for funding.
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