Igloo Software Does Well in the Cold Canadian Winter Raising $5 Million from Investors

Igloo Software – a provider of social business software for the cloud – has raised $5 million from investors in a recent funding round. RBC Venture Partners led the Series B round for the Ontario-based company, with the Ontario Emerging Technologies Fund (OETF) also taking part.

The money will be used to expand the company’s operations, increase its number of partners, and speed up its growth and development of products, according to a company press release.

“It’s been a breakout year for Igloo, fuelled by the tremendous growth from three converging forces in the marketplace – social, mobile and cloud computing,” said Dan Latendre, CEO of Igloo Software. “Businesses are seeking to accelerate their investment across each of these areas, and Igloo has become an on-ramp of sorts, as one of the first steps in adopting this new modern IT infrastructure.”

Igloo was rated as one of the fastest-growing software companies in Canada, and had record year during 2011, the company said. Igloo has customers on six continents.

“As a pure cloud solution that supports both internal and external collaboration, Igloo is uniquely positioned to not only enable companies to get up and running quickly, but also scale their efforts as their social strategy matures,” David Unsworth, a board member and partner with RBC Venture Partners, said in the Igloo statement. “Social networking for business has reached a watershed moment, with most companies either actively using or evaluating social technologies.”

Igloo will focus on such areas as content moderation, games, group collaboration, and security, according to a report from Mediacaster Magazine.

In a related matter, Igloo recently named Andrew Dixon, former Microsoft (News - Alert) Canada chief marketing officer, to its management team. He is the company’s vice president for marketing and operations, according to TMCnet. Jim Balsillie, who was co-chairman of the board at Research In Motion Ltd, is chairman at Igloo

Want to learn more about the latest in communications and technology? Then be sure to attend ITEXPO East 2012, taking place Jan. 31-Feb. 3 2012, in Miami, FL. ITEXPO (News - Alert) offers an educational program to help corporate decision makers select the right IP-based voice, video, fax and unified communications solutions to improve their operations. It's also where service providers learn how to profitably roll out the services their subscribers are clamoring for – and where resellers can learn about new growth opportunities. For more information on registering for ITEXPO registration, click here.

Stay in touch with everything happening at ITEXPO. Follow us on Twitter.