On Oct. 4, 2022, our client, QorusDocs, a global leader in the RFP and proposal management software industry, announced it secured $10 million in additional funding led by WestRiver Group. The new investment will be used to address increasing customer demand for QorusDocs’ proposal management software in growing verticals, such as legal, IT services and staffing.

The company has experienced notable growth, with its user base expanding 255% year-over-year. Additionally, in 2021, the company supported the execution of proposals that valued $1.3 billion.

CEO and co-founder Ray Meiring attributes the increasing demand for QorusDocs’ proposal software to companies’ desire for tools that streamline activities, enable collaboration and clearly add value. And QorusDocs’ solution is proven to deliver value, helping businesses secure new revenue through winning proposals. In fact, according to a new study from QorusDocs, 60% of companies using proposal management software experienced higher business win rates, with a median improvement of 59%.  

For this announcement, the goal was to demonstrate the company’s momentum and the effectiveness of QorusDocs’ solution. To do this, we worked closely with the team to secure statistics that backed up the claims we made about growth and the success of QorusDocs’ software. Additionally, we wanted to highlight how the funding would be leveraged so the target audiences of this announcement would understand the company’s growth plans and the investment in the software.

To provide reporters with an opportunity to ask questions about the funding and secure Ray’s perspective on the market landscape, we offered the announcement under embargo to select reporters, covering technology, business, funding and local enterprise. We secured interest from GeekWire, Puget Sound Business Journal and TechCrunch. Below is some of the coverage generated by this announcement.

Congratulations to the QorusDocs team on the recent funding!

• GeekWire – QorusDocs, which helps companies create and manage sales proposals, raises $10M – 10/4/2022 
• Puget Sound Business Journal – Bellevue proposal software startup QorusDocs lands $10M – 10/7/2022 
• The SaaS News – QorusDocs Raises $10 Million in Funding   | The SaaS News – 10/6/2022 
• Law360 – Legal Tech Roundup: QorusDocs, Lawhive – 10/7/2022
• Benzinga – QorusDocs Secures $10 Million to Support Accelerated Demand for Proposal Management Software – 10/4/2022