MONTREAL, March 18, 2020 /PRNewswire/ -- Vanilla Forums, the leading enterprise online customer community solution, today announced that it has secured an investment from Level Equity, a New York-based growth equity firm specializing in capital-efficient, rapid-growth software companies. This investment will help sustain Vanilla's growth and accelerate its expansion into new markets.
"Offering a modern self-service, online support community is now table stakes for mid-to-large sized organizations. At a time when interactions are moving online, community forums allow people to share, have meaningful conversations and build social bonds," said Luc Vezina, CEO at Vanilla. "We selected Level Equity as our partner because of their proven track record with other B2B software-as-a-service companies."
Today's announcement follows an impressive 54% year-over-year growth, during which Vanilla established itself as a market leader in the online community solution space. This accelerating growth is fueled by the company's ability to scale for the most demanding enterprises. Vanilla's modern take on engaging with online communities helps its customers realize important return on investment and deep impact on their customer satisfaction ratings.
"We are excited to partner with the Vanilla team," said Gautam Gupta, Principal at Level Equity. "We're always blown away by entrepreneurs and management teams that build rapidly growing category leaders having only raised $1 million of prior institutional capital. Vanilla's outstanding product and customer experience have made it the solution of choice for some of the world's best-known brands. As companies continue to replace call centers with online solutions, Vanilla is uniquely positioned to play a big role in providing them with premium customer communities."
Vanilla provides brands and organizations with a one-stop-shop solution that combines the power of customer communities, Q&A, knowledge base, and ideation to help improve customer experience, drive brand loyalty, and foster meaningful connections, all while reducing support costs.
Vanilla's cloud-based, online community software is the enterprise standard used by top brands to engage customers in a better, smarter way. Founded in 2009, Vanilla started as an open-source project. Vanilla powers billions of brand and consumer discussions around the world, being the most widely used hosted community platform online. For more information about Vanilla Forums, please visit vanillaforums.com.
About Level Equity
Based in New York, NY, Level Equity is a growth equity firm focused on providing capital to rapidly growing software and internet companies. The firm manages over $1.7 billion across a series of long-term committed investment partnerships. For more information about Level Equity, visit levelequity.com.
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