Providing the most advanced response management solution and paving the way for an exciting future roadmap for strategic sourcing software.
RFPIO, the leader in response management software, announced the completion of its acquisition of RFP360, the industry’s only provider of software serving the complete RFP lifecycle. Known for its strong customer focused product innovation and now with a full RFP life-cycle offering, the acquisition will bolster RFPIO’s user base across market segments and industries, to include more than 200,000 users worldwide.
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“I’ve truly enjoyed competing with RFPIO over the years and always respected the way they approached the market and their customers. It certainly wasn’t a surprise to see them grow quickly into a category leader,” said Dave Hulsen, cofounder of RFP360 and new member of the RFPIO leadership team. “Through this acquisition, I’m extremely excited about the future as we work together to drive innovation in response management and similarly advance our request management offering in the strategic sourcing market.”
In addition to strengthening RFPIO’s position as the leading provider of response management software, the acquisition expands RFPIO’s offering to include a strategic sourcing solution, bringing to market the most efficient and proactive request for proposal (RFP) solution.
“When we founded RFPIO, we had two primary objectives. To build a solution that would support revenue generation from RFP response. And to create a company where my co-founders and I were excited to work. This acquisition is furthering progress on both fronts,” said Ganesh Shankar, CEO of RFPIO, who will continue in his role following the acquisition.
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Led by AJ Sunder, RFPIO’s CTO and Chief Product Officer, RFPIO’s growing product portfolio will now provide the most efficient and effective process for all companies involved in the purchase lifecycle — the stage is set for disruption and continued innovation in response management and strategic sourcing software.
“The success of the modern workforce depends on solutions that free up time to focus on the most valuable work,” said Hasan Askari, Managing Partner at K1 Investment Management, who sits on the board of RFPIO. “We’re pleased to see RFPIO’s industry-leading software and leadership join forces with RPF360’s full-circle solutions to advance the future of B2B procurement together.” K1 is the first and only institutional investor in RFPIO and participated along with the company to help finance the acquisition.
Innovation and a customer-first approach has earned RFPIO a strong reputation recognized by analysts and through industry awards and rankings including leading the RFP Software grid 9 cycles in a row. To sustain the level of support customers have come to expect, RFPIO has promoted company veteran, David Blume to Vice President, Customer Success and Professional Services. Working with Chief Operating Officer, Sankar Lagudu, the two will ensure that customers continue to receive world-class support.
Customers of both companies got a preview of the news, triggering a steady stream of congratulatory messages that echoed the same excitement felt by employees of both organizations.
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