May 31, 2021
Q4 Inc., a Toronto-based software company, is on track to be the next Canadian technology company to enter the public market through an initial public offering. Q4 has filed a preliminary prospectus and plans to trade on the Toronto Stock Exchange under the symbol ‘QFOR’. The number of common shares to be sold and the share price have not yet been announced.
Q4 was founded in 2006 and has since been led by CEO Darrell Heaps. The company, which has offices in Toronto, New York, and London, England, has raised several rounds of funding, including a $25 million credit facility from CIBC Innovation Banking last year. Prior to that, Q4 raised $35 million USD in Series C funding.
The IPO will raise funds which Q4 says will be used to repay its debts and to pursue growth strategies. The company’s investor relations platform is currently used by 2,400 public companies, including half of the companies in the S&P 500. Product offerings include virtual events, corporate access, data and analytics, customer relationship management, and capital markets intelligence. The filing highlighted Q4’s strong growth and subscription model which it believes will make revenues more sustainable as the company seeks to become profitable by expanding its customer base. The company claims that the growth strategy will be executed by investments in products, larger sales and marketing teams, and possibly through acquisitions.
Author: Max Borins