Canadian Tech Firm Coconut Software Raises $22m in Series B Funding

Coconut Software, a Canadian tech firm, has secures $22 million in Series B funding round, which was led by Toronto-based growth equity firm Klass Capital with participation from Coconut's entire roster of existing investors including Information Venture Partners, ScaleUp Ventures, Conexus Venture Capital Fund and Bay Partners.

The new funds will be used to accelerate product development, hire key roles across the business and invest in marketing and sales to help financial institutions transform their customer experience.

Coconut's clients include RBC Royal Bank, Arvest Bank, Vancity and Rogue Credit Union. The company has seen year over year revenue growth of more than 100% over the last three years.

About Coconut Software

Coconut is a cloud-based appointment scheduling solution designed for enterprise financial services organizations such as credit unions, retail banks and more. Key features include online bookings, recurring appointments, group scheduling, two-way calendar sync and room booking.