Together with other investors including the investment lead Strandview Capital as well as an investment vehicle of Schneider Electric, a US $30 billion leader in energy management and automation, innogy Ventures has invested in Qmerit's cloud-based supply chain solutions. Qmerit has closed this major venture capital financing round with a total amount of $11.75 million. The investment will help Qmerit aggressively expand its sales efforts as well as increase and accelerate product development. It will also help Qmerit expand its rapidly growing client list, which already includes multiple Fortune 500 companies.
Qmerit's merit-based solutions significantly reduce labor and material costs and improve service quality for building owners, property managers, OEM's and contractors. Qmerit's Smart Market™ algorithm ensures that the optimal labor resource is assigned to each job and the best value supplier is chosen for material purchases.
Qmerit's workforce management platform offers solutions for utilities, EV charging station installers, OEMs, and facility managers
Qmerit's workforce management platform transforms the way companies vet, onboard, manage and objectively measure their contractors through a proprietary Qmerit Contribution Index™ (QCI). Similar to a FICO score, a QCI score is continuously calculated for each contractor based on their quality, responsiveness, compliance, customer ratings and more. Qmerit was recently recognized as a Top 10 Workforce Management Solution Provider by HR Tech Outlook.
Qmerit's procurement platform substantially reduces material acquisition costs through the industry’s first solution that aggregates the purchasing spend of contractors, building owners, and property managers. Qmerit has leveraged this unparalleled purchase volume to negotiate significant discounts and rebates with OEM's and suppliers. Qmerit's eProcurement software provides desktop and mobile access to these discounts and streamlines the procurement process.
About Strandview Capital
Strandview Capital is a private equity firm that provides growth equity capital to companies in the financial services and financial technology sectors. Strandview incorporates a unique hands-on strategic approach that leverages its deep industry specialization and relationships to add substantial value to its partner companies.
Strandview is typically the lead investor on financing transactions and makes large minority equity investments into companies with proven products, capital-light business models, and a focus on profitability. The Strandview team utilizes a contrarian, defensive and value-focused strategy that has resulted in a successful track record over 12 years and four funds of investing in companies that perform well in both growth and recessionary market environments.
About Schneider Electric
Schneider Electric is leading the Digital Transformation of Energy Management and Automation in Homes, Buildings, Data Centers, Infrastructure and Industries. With a global presence in over 100 countries, Schneider is the undisputable leader in Power Management – Medium Voltage, Low Voltage and Secure Power, and in Automation Systems. They provide integrated efficiency solutions, combining energy, automation and software.
In Schneider Electric's global Ecosystem, they collaborate with the largest Partner, Integrator and Developer Community on their Open Platform to deliver real-time control and operational efficiency. Schneider Electric believes that great people and partners make Schneider a great company and that the commitment to Innovation, Diversity and Sustainability ensures that Life Is On everywhere, for everyone and at every moment.