BQE Software, which makes a voice-enabled accounting and invoicing software suite, has snagged a growth investment from Serent Capital, an investment firm that focuses on tech-enabled services companies.
The amount of the investment was not disclosed.
BQE Core, the company’s flagship product, is a cloud-based platform that centralizes and automates time tracking, billing, project management, accounting, client relationship management, human resource management and e-payments in an AI-powered platform. BQE Core is designed for professional services organizations.
The investment from Serent is earmarked for BQE to grow investments in its product platform (including the recently released new customer relationship management and HR offerings), expand its customer success function to better serve its existing customers, and scale new customer acquisition efforts. Serent will also help BQE pursue strategic acquisitions in the professional services automation market worldwide.
"We see a tremendous opportunity to expand on the success of BQE Core, and we're excited to partner with the Serent team on the next stage of our growth journey," said Shafat Qazi, founder and CEO of BQE, in a statement. “With Serent's experience, support and resources, we look forward to accelerating our product innovation and helping more customers around the globe operate efficiently through BQE's award-winning platform.”
“Shafat and his team have developed an industry-leading platform that delivers immense value to users, and we're delighted to partner with him for the next phase of growth,” said Kevin Frick, co-founder and partner at Serent Capital. “We share Shafat's vision for the company and see opportunities to grow BQE's footprint by investing further in the product, expanding sales and marketing efforts, and pursuing strategic acquisition opportunities.”
