Igloo Software, a Canadian provider of cloud-based social business software, has received $5m from a Series B financing round led RBC Venture Partners, with the Ontario Emerging Technologies Fund (OETF) also participating.
The company’s customer base spans six continents, with operations in the US, Canada and EMEA. The proceeds of this investment will be used to expand the business, accelerate product development, significantly grow its ecosystem of partners and broaden its reach, in order to satisfy global demand for its cloud collaboration services.
David Unsworth, board member and partner with RBC Venture Partners, said, “Social networking for business has reached a watershed moment, with most companies either actively using or evaluating social technologies.
“As a pure cloud solution that supports both internal and external collaboration, Igloo is uniquely positioned to not only enable companies to get up and running quickly, but also scale their efforts as their social strategy matures.”
RBC Venture Partners also co-manages the Blackberry Partners Fund, a $150m vehicle set up by Research in Motion, Canadian RBC and Thomson Reuters to invest in mobile applications and services for Blackberry and other mobile platforms.
Copyright © 2012 AltAssets