The obvious question is why did RBC Venture Partners invest in IGLOO?
The plain answer - Igloo Software has enormous potential and makes an excellent addition to our portfolio of promising North American technology companies. Igloo Software's unique background, and the fact that the platform is offered as an integrated suite, clearly situates the company as an emerging leader in the corporate social networking space.
The greatest irony arising from the rapid adoption of Web 2.0 (free) software is that we often have better software tools at home than we do at work- and this has got to change. Increasingly, organizations of various sizes are embracing online tools popularized in the consumer space, including blogs and wikis, and enabling employees to integrate them into their daily workflow.
Igloo's corporate social networking suite provides the security and control that enterprises require, but allows the user to work with these collaboration tools to work better and smarter. Enterprises must adopt/embrace these technologies to make their workforce more effective, as well as attractive to a generation of new employees. The "NetGen" workforce will demand these tools - just as today we expect "birthright" technologies like email to do our jobs.
Finally - it is hard to manage teams, even harder to manage them well, and nearly impossible to manage them without the right tools. Igloo Software provides a robust, integrated platform to cost-effectively manage teams from the bottom up.
IGLOO's legacy of success clearly contributed to RBC's decision to invest in the technology. Currently boasting 120,000 customers in 550 global communities, Igloo Software is supported by a strong management team with years of experience in both technology and management.
CEO Dan Latendre is a long-time veteran of the software industry and his deep content management background provides Igloo Software with an important direction that harnesses the promise of Web 2.0 to create practical business outcomes. Combine the direction and guidance from an industry leader and visionary like Jim Balsillie, co-CEO of RIM and chairman of the Igloo Software board, and you lay the groundwork for strong future growth.
Want to learn more about Igloo Software, our corporate values and our leadership team.