Canada-based investor relations software provider Q4 closed a $22m series B round yesterday co-led by enterprise software producer OpenText, venture capital fund Information Venture Partners and private equity firm HarvourVest Partners.
OpenText invested through its Enterprise Apps Fund, the backers of which also include fund of funds Teralys Capital and government-owned development agency Business Development Bank of Canada.
Information Venture Partners was formerly known as RBC Venture Partners and functioned as the venture capital vehicle of financial services firm Royal Bank of Canada until a management buyout in 2014.
The series B round also included Kensington Capital Partners, Plaza Ventures, Accomplice and Emerillon Capital, which is backed by financial institution Crédit Industriel et Commercial’s investment arm CM-CIC Investissement.
Q4, founded in 2006 and previously known as Q4 Web Systems, operates a trading insights software platform that includes investor websites, earnings webcasting, marketing intelligence and an investor customer relationship management suite.
The money will be used to drive recruitment across Q4’s sales, marketing and engineering teams.
The company has now received $30m in total funding, though it has only revealed details about a $5m series A round in February 2015 which was led by Plaza Ventures and backed by Accomplice, then known as Atlas Venture, and debt financing from Silicon Valley Bank.