Coconut Software Raises CAD 28 Million in Series B  

by Kay Aloha Villamor in October 6th, 2021

Coconut Software, the leading provider of appointment scheduling and lobby management solutions for financial institutions, raised CAD 28 million in Series B funding. 

The round was led by Klass Capital, a Toronto-based, long-term-oriented growth equity firm that invests in high-growth enterprise software businesses. All of Coconut’s existing investors, including Information Venture Partners, ScaleUp Ventures, Conexus Venture Capital Fund, PIC Investment Group, and Bay Partners also participated in the round.

Coconut plans to use the fresh funds to speed up new product launches, including that of Coconut Connect, which will allow staff and members to not only coordinate appointments but also facilitate that meeting within the Coconut platform. Coconut also plans to use the financing to hire key roles across the company and invest in demand and revenue generation through marketing, sales, and customer success.

Company: Coconut Software Corp.

Raised: CAD 28.0M

Round: Series B

Funding Month: October 2021

Lead Investors: Klass Capital

Additional Investors: Venture Partners, ScaleUp Ventures, Conexus Venture Capital Fund, PIC Investment Group, and Bay Partners

Company Website: https://www.coconutsoftware.com/

Software Category: Appointment scheduling and visitor management platform

About the Company:  Coconut Software, the leading provider of appointment scheduling and lobby management solutions for financial institutions. Coconut Software makes it effortless for customers to connect with their financial institution. Coconut was one of five Canadian startups chosen in 2020 to participate in the Google for Startup’s first Women Founders accelerator program. Its enterprise appointment scheduling and lobby management solutions are used by leading banks and credit unions across North America, including RBC Royal Bank, Arvest Bank, Vancity, and Rogue Credit Union. The company has seen strong momentum over the last three years, achieving 100%+ year over year revenue growth, as financial institutions sprint to modernize their customer experience. 

Source: https://betakit.com/coconut-software-on-growth-trajectory-with-28-million-cad-series-b-funding/ https://www.globenewswire.com/news-release/2021/10/05/2308663/0/en/Coconut-Software-Closes-28M-CAD-Series-B-Funding-Round-Led-by-Klass-Capital.html


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