The financing has enabled the Microsoft Gold Partner to invest $500,000 in the construction of a new building to attract and retain information technology professionals.
Founded in 2000 by CEO Francis Dion, Xpertdoc is a global software company that provides industry-leading document generation and customer communications management (CCM) solutions.
“Xpertdoc is doing an amazing job in successfully competing in a global market dominated by giants such as Adobe and OpenText,” said Jean-Philippe Poissant, Director, Growth Capital and Business Transfer for Northern Quebec at BDC Capital. “Their immense growth over a six-year period is fueled by very large sales in the United States. BDC Capital’s mezzanine financing will enable Xpertdoc to accelerate the execution of their ambitious growth plan, which includes business acquisitions and the creation of multiple positions in the Greater Montreal area.”
The new financing has also allowed Xpertdoc to set up a Cooperative of Employee Shareholders, with 16% of the company’s shares made available for purchase for Xpertdoc employees to become minority shareholders.
“We have strong growth potential and plan to hire close to 100 high-technology specialists within three years,” said Francis Dion, CEO and founder of Xpertdoc. “Our team of 50 highly qualified professionals is working hard toward achieving our goal of doubling our revenue from $ 5 million to $ 10 million in two years, now propelled by the additional funding from BDC.”
Xpertdoc was one of the fastest growing companies in Canada in 2016, and has sustained a 40% growth year-over-year for six consecutive years. The mezzanine financing will support their growth objectives as well as help keep top-tier tech professionals in Montreal.