Halifax-based Proposify has developed a web-based technology that improves the process of preparing business proposals.
With an equity investment from Innovacorp, Nova Scotia's early stage venture capital organization, Proposify will refine its product and expand into new markets.
"Innovative startup companies play an important role in the economy, and have the potential to grow, hire local talent and reinvest in their communities," said Economic and Rural Development and Tourism Minister Michel Samson. "I congratulate the people at Proposify for developing a great product and I wish them every success as they bring this new technology to market."
The $250,000 investment from Innovacorp will finance Proposify's product rollout and business development this year.
The company was co-founded by Kyle Racki, a web designer and marketer with over 10 years of experience, and Kevin Springer, an entrepreneur who has successfully built and grown businesses throughout Canada and the United States.
"At present, there are few tools that specialize in proposal creation and even fewer like Proposify's that make the task faster," said Mr. Springer. "Our competitors offer templates with varying degrees of flexibility, but they don't offer the customization our product does."
Proposify's software speeds up the process of proposal writing and in turn reduces costs and improves profitability for service providers and salespeople.
The platform makes it easy to track and manage proposals, collaborate with teams, design layout, and store and retrieve reusable content. It allows a number of people at different locations to work together seamlessly to create custom-designed proposals through their web browsers.
"Virtually every service-based company needs to write proposals to stay in business," said Greg Phipps, managing director of investment at Innovacorp. "The company is well-positioned to be a leader in proposal software for professionals in the creative industries.
"The market for automated sales applications has grown exponentially, with proposal and quotation applications experiencing the highest growth. We're pleased to be part of Proposify's growth story."
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