Canada-based startup Igloo Software has announced that it has raised $47 million, on the back of significant growth of its business.
The digital workplace solution aims to help employees communicate, collaborate and share knowledge, whilst fostering a richer culture to keep employees engaged. Similar to platforms like Slack and Jive – it comes with built-in apps and optional integrations.
The company is active in 80 countries, has around 1,000 paying customers and some 10,000 organizations using a free version of its platform. It works out to “well over” 1 million users on Igloo, said Dan Latendre, the founder and CEO of Igloo, in an interview. The company added 190 paying customers in the last year, representing a growth rate of 79 percent.
The new funding comes from Frontier Capital and brings the total raised by Igloo to $56 million after raising $9 million in the company’s nine year history.
The funding will be to expand the product into new areas of business beyond to offer employees things like tech support, onboarding documents, communication services and more.
In a recent article by TechCrunch, Founder Dan Latendre explains that he has steered the company to think of SaaS not as software but solutions — that is, “Solutions as a Service.”
“Igloo positions itself as a platform that incorporates lots of other software, including the likes of Slack, as well as Salesforce, Microsoft and Google’s productivity suites, Dropbox and Box and more. The idea here is that incorporating tools that people are already using is the best way of getting them to engage in using them more, and giving end users a choice and flexibility is better than locking them into something.”