This investment follows amplified demand for DisclosureNet, an online, public company research solution, and the growth of the product family.
Best Fund says that previous investments in XPI have "yielded positive results" and have indicated that XPI and its business products "are innovative industry-leaders that encompass the BEST Funds' vision of cutting-edge, game-changing technologies."
"Having had the unique opportunity to have worked closely with XPI over the last two years, we feel as though this larger commitment is a reflection of the confidence Best has in XPI's progress to date and its visionary management team," Best Funds CEO John Richardson remarked. "It is our strong belief that this added investment will enable XPI to meet the ever-increasing demand for DisclosureNet and help position XPI as the unequivocal leader in the securities filings research space. We feel XPI exemplifies the characteristics of a leading Canadian technology company, and we look forward to continuing to work with their team."
"The investment from Best Funds further strengthens an already strong relationship between our companies," stated Stephane Jasmin, XPI's Chief Executive. "Best's ongoing commitment has assisted directly in our continued success in delivering leading-edge solutions to our customers. The infusion of funding will be utilized to transition the company into global markets, as well as expand current operations to meet ever increasing demands for DisclosureNet."