$35 million growth financing completed by IQMS


XDATA – September 22nd 2014

IQMSA $35 million unregistered equity financing by IQMS successfully drew to a close. The non-brokered investment round was placed among ten investors. The subscription started one month ago. The equity offering’s estimated net proceeds amount to $20.2 million excluding $14.8 million earmarked for the payment of officers’ salaries. No offering was previously initiated by the company under a registration exemption with the SEC.
When the company reported the growth investment from Technology Crossover Ventures in its press release on August 19th, the transaction size was not disclosed.

IQMS develops and markets manufacturing enterprise resource planning (ERP) software for the repetitive, process and discrete industries such as the automotive, medical, packaging, consumer goods and other manufacturing markets. The company’s single-database enterprise software solution, EnterpriseIQ, offers a scalable system designed to adeptly grow with the client and complete business functionality, including accounting, quality control, supply chain, shop floor, customer relationship management (CRM) and eBusiness. The company is backed by Technology Crossover Ventures.

The company, headquartered in Paso Robles CA, is led by Randall Flamm (CEO). Revenues on or below $100 million were reported by IQMS.

Offering recap
Status: Completed
Company: IQMS
Industry: Other Technology
Amount offered: $35 million
Amount placed: $35 million
First sale: 08-06-2014
Data as of: 09-22-2014

For more information visit www.XDATA.co

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s