A Missoula-headquartered tech company has landed the largest-ever venture capital investment in Montana history.
Submittable, a software company that caters to nonprofits, governments and corporations, announced on Monday that it’s raised $47 million in Series C funding led by technology-focused investment firm Accel-KKR with support from existing investors.
According to CEO Thor Culverhouse, the money will be used to expand the company’s staff in Missoula and in the Seattle area.
“It’s an accelerant for the company,” he said. “We doubled (revenue) last year, and we will probably be close to a double this year. This capital will also likely allow us to double the size of our team. We’re continuing to invest in the culture and the people and talent of Missoula.”
Submittable has 165 employees total, with about 90 of those based in Missoula. The company’s offices are in the historic Florence building downtown, but many of the workers are fully remote.
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Submittable was founded in a basement in 2010 by Missoula entrepreneurs Michael FitzGerald, Bruce Tribbensee and John Brownell. In 2019, the company landed $10 million in venture capital. In 2020, FitzGerald stepped away