Reston Software Company GoCanvas Acquired by L.A. Investors for $100M+

A simple form may be well worth greater than you watched.

Reston software program startup canvas, which makes cellular-pleasant web forms for businesses, was obtained by means of personal equity firm K1 Investment Management for extra than $one hundred million, the Washington Business Journal reviews.

The deal offers the Los Angeles-primarily based group majority ownership and leaves in some investors, such as founder and CEO James Quigley and a founding investor and former NFL superstar Kurt Warner, in line with the WBJ. It closed at the end of 2018.

Quigley plans to grow from 165 personnel to greater than 300 following the investment, typically at the business enterprise’s Reston Town Center headquarters. It has 22 open positions on its internet site and plans to bulk up its sales and advertising and marketing groups.

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canvas added in greater than $20 million in revenue last year but hopes to build in the direction of the $a hundred million annual revenue milestone.

“This partnership possibly makes this possible a year and a half of faster,” Quigley informed the WBJ. “The cause is that those guys like building unicorns with no one left at the back of.”

canvas become based in 2008 as Canvas earlier than converting its name in 2017, while it additionally made the Deloitte Technology Fast 500 listing of fast-developing generation businesses. The enterprise had raised about $21 million in investment in view that it’s founding, in step with a Crunchbase tally, from investors inclusive of D.C.-based Camber Creek and Osage Venture Partners.

Last February, Ben Foster joined the agency as chief product officer following a tenure at eBay in the early 2000s and govt positions at D.C.’s Opower. Since 2014, he has been an adviser to greater than 40 tech groups which include FiscalNote, Contactually and Stardog Union.

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