Where'd It Come From?
The money comes from Series B financing that was led through RBC Venture Partners along with the Ontario Emerging Technologies Fund.
According to Igloo, the money will be used to accelerate product development -- just about mandatory now in a market that changes so quickly -- as well as to grow its ecosystem globally and ride the wave of growing interest in cloud services, and in particular cloud collaboration services.
It's been a breakout year for IGLOO, fuelled by the tremendous growth from three converging forces in the marketplace - social, mobile and cloud computing...Businesses are seeking to accelerate their investment across each of these areas, and IGLOO has become an on-ramp of sorts, as one of the first steps in adopting this new modern IT infrastructure,” Dan Latendre, CEO of IGLOO Software, said.
Where's It Going?
OK, a lot of companies in the social collaboration space could say the same thing, but the progression of Igloo has been fairly consistent over the past years, which must say something about its products.
And this is not just hot air; it shows in the figures with an 80% increase in license revenues last year through 4000 global collaboration sites and a growth of 60% in the number of new customers on its books.
It also released five major updates over the course of the year, including social workflow, which offers organizations the ability to view all content and approve/reject it before it's published, including social interactions.
Where Igloo goes with C$ 5 million in its pocket will be interesting to watch. It also appointed one of Canada’s top marketeers in the shape of former Microsoft Canada Chief Marketing Officer Andrew Dixon to lead its marketing push, so it's a safe bet that there’ll be a lot more noise from it in the coming year.