Sumeru Equity Partners made a US$200-million investment in Loopio, which provides request-for-proposal response software. The PE firm also led a US$100-million strategic round for Tasktop, whose value-stream management platform helps companies shorten time to market. (The Logic)

Talking point: Sumeru typically invests in enterprise tech companies in North America and Europe. Tasktop plans to use the funds from the round, which included participation from management and existing investors, to “accelerate growth and expand market leadership,” relying on Sumeru’s experience and support. Loopio, meanwhile, plans to use its cash injection to accelerate product development, customer acquisition and hiring more than 35 employees by the end of this year. Loopio previously raised US$9 million in its sole funding round in 2018. Tasktop raised US$31.8 million as of Sept. 21, 2020, according to PitchBook. In the first nine months of 2020, Canadian software-as-a-service companies received only 22 per cent of the $5.13 billion in the industry the previous year, with fewer deals reported, according to a report from Ottawa-based L-Spark.