Exciting News! Qualtrax Is Growing!
By on January 10, 2017
We love sharing good news with you, and today is no exception.
Qualtrax is GROWING!
We recently completed a new growth equity investment into our business. That investment helps us to grow in lots of ways.
Unlike Steve Austin/Lee Majors, we don’t need to be rebuilt. But we are able to do some amazing things because of that new investment:
Grow Faster:
In short, we can hire more people, faster. We can scale even more effectively and further our unmatched commitment to you, our customers. As we grow, we’ll continue to use your feedback and quality conversations as the driving force for solutions development. You have helped get us to where we are today and this growth helps us to serve you even better into the future.
Grow Stronger:
As we grow our team, we are able to continue to select top performers in all areas of our company. This allows us to continue to give you the best service, support, and quality software. You deserve it!
Jump Over Impossibly Tall Walls And See Objects Miles Away With Bionic Implants:
Well, maybe not, but we can dream, right?
If you would like to know more or have any questions, please feel free to reach out to our Chief Executive Officer, Amy Ankrum. As always, we’d love to hear from you. The full press release is below:
Qualtrax Announces New Growth Equity Investment
Compliance software industry leader receives new funding to accelerate growth
BLACKSBURG, Va. (January 10, 2017) – Qualtrax, Inc., a leading provider of compliance software solutions, today announced the completion of a major growth equity investment. The new capital will be used to further accelerate the company’s strong track record of growth, with a focus on investing in sales and marketing, continued product innovation, and expansion into new markets. The multi-million dollar investment was led by Common Wealth Growth, Lyden Capital, and existing investors Marty Muscatello and Tim Lawson.
Qualtrax provides companies and accrediting bodies with a complete compliance management solution to streamline and simplify accreditation, document, and process management; as well as testing, training, and integrations. The company’s client base, which has demonstrated best-in-class retention rates, spans organizations across a wide range of industries around the world.
“We are excited to partner with Common Wealth Growth, Lyden Capital, and our existing investors Marty Muscatello and Tim Lawson to continue our forward trajectory,” Amy Ankrum, Qualtrax Chief Executive Officer said. “We believe this is an amazing opportunity for the company and our customers. This growth investment will help us continue to add new value to our clients and strengthen our service capabilities. We are looking forward to this exciting new chapter in Qualtrax’s growth.”
“This investment will allow us to support a growing number of businesses that increasingly find themselves under heavy compliance burdens,” Ryan Hagan, Qualtrax Chief Operating Officer said. “There is a better way to manage compliance and Qualtrax’s solutions allow organizations to focus on making critical contributions to society, from ensuring justice to providing reliable power generation.”
Qualtrax will use the investment to further build out its global sales and marketing team, which is focused on expanding worldwide in its target industries including laboratories, manufacturing, utilities, and others who find themselves under heavy compliance and workforce training pressure. “We focus on hiring top performers who live our core values. Today we have a team that embraces a results-oriented approach to drive continuous improvement and increased market share, and we’ll continue to grow with that approach in mind,” Ankrum added.
“I founded Common Wealth Growth to work with strong, local businesses to create impact in our region,” said Jon Hagmaier, CEO of Common Wealth Growth. “There are a number of successful companies that started right here in our community and Qualtrax is the perfect example of a business that is filled with our region’s brightest minds and poised for significantly more growth if provided the proper support. That is precisely the type of business that we seek out and the nature of a company that we want to see headquartered in our region well into the future.”
“I am very excited to partner with the Qualtrax team and support them as they continue to build on their historical success. Qualtrax has built an incredible foundation with its industry leading compliance solutions and excellent customer service. With this investment, we hope to expand the company’s reach in existing and new markets,” added My Le Nguyen, Managing Partner of Lyden Capital.
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About Qualtrax
Founded in 1993, Qualtrax provides a complete compliance software package and works with companies worldwide to assist them with achieving compliance goals. This includes managing documentation, automating key business processes, streamlining training management, and ensuring critical industry regulations are addressed [in real-time]. Learn more at qualtrax.com.
About Common Wealth Growth
Common Wealth Growth is a venture and angel investment firm focused on regional SaaS (Software as a Service) companies. Founded in Roanoke, Virginia in early 2016 by Jon Hagmaier, the mission of Common Wealth is to accelerate growth and improve the potential of companies in its portfolio. We believe that honorable, unselfish and generous people are best equipped to run a successful business. We also believe that we can provide the financing, advising, and connections to help those promising companies accelerate their growth. Learn more at commonwealthgrowth.com.
About Lyden Capital
Lyden Capital provides value-added capital for growing companies seeking a strategic and financial partner. Our core sectors of focus are technology, healthcare, and business services. Lyden Capital leverages its domain expertise, industry networks, and financial resources to support its partner companies across the entire investment lifecycle. Learn more at lydencapital.com.
