Coconut Software Raises $4.2 Million in Series A Funding Led by Information Venture Partners of Toronto
TORONTO, Nov. 7, 2017 /CNW/ – Coconut Software Corporation, a leader in enterprise appointment scheduling software, today announced it has raised CAN $4.2 million in Series A funding. The round was led by Toronto-based venture capital firm, Information Venture Partners and joined by ScaleUp Ventures and StandUp Ventures, both also located in Toronto. The Series A funding follows on a seed round of $700K that was raised less than a year ago. Previous investors, PIC Investment Group of Saskatoon and Bay Partners from Silicon Valley, also joined this round. The company plans to use the additional funds for expansion plans in both Saskatoon and Toronto.
Coconut provides an enterprise appointment scheduling platform for large companies that manage millions of customer appointments during the year. Coconut lets the customer choose times that work best for them without extensive telephone hold times. Large organizations, such as telco companies with retail store outlets, ensure customers are not frustrated waiting in line for service. The enterprises can better manage their workforce, while providing a positive and modern experience with the brand.
“Coconut is taking old ways of scheduling appointments, such as emails, forms, and voicemails, and making them a real-time experience that is quick and easy for both companies and their customers,” said Katherine Regnier, CEO of Coconut. “Customers want their problems solved without wasting time waiting for an appointment, and corporations want to provide a digital customer experience. At Coconut, we’re making appointment scheduling as easy as picking a time. This investment will bolster our platform, and we are thrilled with the level of expertise and sophistication each investor brings to the table.”
Regnier is not only driving her own company’s growth, but actively contributing and mentoring other startups in Canada. She is a board member of Saskatchewan’s first technology incubator Co.Labs, and coordinates events and meetups with Canadian entrepreneurs and investors from Silicon Valley. Regnier has recently been nominated for CBC Saskatchewan’s Future 40, as well as selected to participate in 48hrs in the Valley, which introduces Canada’s most promising startups to Silicon Valley’s top mentors, investors and industry executives this December.
“Coconut is changing the way large institutions engage with customers and deliver service-first experiences,” said David Unsworth, General Partner and Co-Founder at Information Venture Partners. “The Company is providing a solution that allows leading retailers to seamlessly blend their online, in-store and mobile service requests leading to enhanced customer service and efficiency. Customer satisfaction is top of mind with many of these institutions and Coconut is providing an innovative solution that we are proud to support as their impressive growth continues.”
As part of the investment, Unsworth will join the Board of Directors along with Kevin Kimsa of ScaleUp Ventures and Neal Dempsey of Bay Partners.
About Coconut Software
Coconut provides an enterprise appointment scheduling solution that redefines how customers interact with organizations, while maintaining the highest levels of security and compliance. Born out of a need for a real-time, easily adopted, scheduling solution, Coconut is now used by many of the North America’s largest firms, such as Jackson Hewitt, London Drugs, Rogers, and TELUS. Since its founding in 2011, the company has quickly become the leading appointment scheduling platform that modernizes the customer experience while saving companies time and money.
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