QuextBased in Lubbock, Texas,, a technology company offering a platform technology for multifamily industries, has secured $63m funding. This was based on a $350m post-money valuation.
The identity of the backers was not revealed.
Funds raised will enable the company to develop its smart-home technology platform, increase IoT inventories, further protect its intellectual property, and expand its customer service and sales teams.
Quext’s CEO Dave Gilles is leading the company. Quext offers a cloud-based smart home technology platform that includes internet of things, digital customer support and fintech solutions. Its patented holistic IoT solution for the multifamily market is powered by a custom manufactured thermostat hub with integrated low-power wide area networks (LPWAN). The company also offers fintech solutions, CMS integrations, and AI-powered capabilities. Its products include Quext IoT, Quext Digital Human, Quext Connect, and Quext Websites.
Over the years, the company has obtained numerous patents in IoT and smart apartments. This protects its intellectual property while expanding its customer base as well as building strategic partnerships.