Qmerit: Bringing order to the chaos of supply management
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.
“We are absolutely delighted to have garnered the support of such prestigious strategic investors. The experience of these industry leaders combined with our 25+ years of domain expertise and disruptive technologies will enable us to transform the building trades industry. We also very much appreciate the roles Strandview Capital and our friends and family investors played in bringing this transaction to fruition.”
Tracy K. Price, Qmerit Chairman, Founder and CEO
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.
Subline: 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.
“Qmerit´s solution for the installation of EV charging stations has immediate applicability for the future EV charging business – especially in the US market. Tracy Price and his Qmerit team have built a product that solves real problems for contractors, building owners, and property managers. We see a perfect fit between Qmerit´s highly scalable business and our portfolio that is built for the future of energy and mobility.“
Matthias Engel, Managing Director of innogy Ventures
Qmerit is a leader in cloud-based, supply chain solutions that significantly improve service quality and reduce operating costs for OEM’s, facility managers, and contractors.
Qmerit was launched as a spin out from a Fortune 500 facility services company with over 110,000 service employees and thousands of subcontractors so we innately understand the complexities and frustrations with managing a complex, service supply chain. Their passion is to bring order to this chaos.
Qmerit is a software platform that enables companies to manage, measure, and motivate their contractors and employees to excel while gaining visibility into their service quality. Qmerit’s patent-pending algorithms allocate the best resource at the best value for every service request.
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.