INVEST - Canadian Software Company Igloo Raises US$47M

Frontier Capital, a Charlotte Based Growth Equity Firm has Invested in Kitchener, Ontario Based Igloo.

According to the company release, this investment in IGLOO is Frontier Capital’s first foray into the Canadian market. The Frontier capital increases the total investment in IGLOO to US$56M. Frontier joins RBC Venture Partners and Blackberry in the Igloo investor group.

The Frontier Capital investment is intended to build Igloo’s sales and marketing operations, expand distribution channels, strengthen its global partnership with Microsoft, and further accelerate the company’s footprint in the North American market.

“Igloo’s growth over the last several years, in combination with our partnership with Frontier Capital, is a testament to our innovative approach to solving real world digital workplace challenges,” said Dan Latendre, Founder & CEO, Igloo. “We believe Frontier’s expertise in driving growth and creating enterprise value for software-as-a-service companies in the human capital management sector make it a natural fit for Igloo. We look forward to working with Frontier as we continue to disrupt the market and help businesses improve productivity and competitive advantage throughout their digital transformation journeys.”

In 2017 alone, Igloo expanded its global presence to 80 countries, surpassed one billion monthly interactions on its digital platform, achieved 79% year-over-year growth in the third quarter, and added more than 190 new customers to its growing base of enterprise accounts. Igloo clients include top brands across healthcare, hi-tech, financial services, retail, hospitality, and not-for-profit.

“As the next generation of employees redefines both the physical and digital workplace, we see a rapidly expanding market for innovative solutions that enable an organization to better engage its workforce by fostering collaboration and connecting employees with the right information at the right time,” said Andrew Lindner, Co-Founder and Managing Partner at Frontier Capital. 

About Igloo Software
Igloo was founded in 2008 and is a leading provider of digital workplace solutions, helping companies build inspiring digital destinations for a more productive and engaged workforce. Offering a suite of modern features and solutions for today’s evolving workplace, Igloo partners with customers to address challenges related to communication, collaboration, knowledge management, employee engagement, and culture.