Qmerit Secures $11.75M in First Funding
/Qmerit, an Irvine, CA-based provider of cloud-based MRO supply chain solutions, raised $11.75m in its first venture capital financing.
The round was led by Strandview Capital alongside strategic investors Schneider Electric’s fund, an investment vehicle of Schneider Electric, and innogy Ventures, the investment arm of Germany-based energy group innogy SE. In conjunction with the funding, Kevin Covert from Strandview and Heriberto Diarte from Schneider Electric will join Qmerit’s Board of Directors.
The company intends to use the funds to expand its sales efforts as well as increase and accelerate product development.