QLess Raises $3.5 Million Growth Capital from Wellington Financial
PASADENA, CA and TORONTO, March 14, 2016 /PRNewswire/ - QLess, an innovator in customer experience and queue management software, has secured US $3.5 million in True Growth Capital from Wellington Financial LP, a privately-held specialty finance firm.
QLess helps companies optimize their customer experience process by providing an interactive platform for employees to manage customer service flow, equipping management with real-time reporting and analytics to boost operational efficiencies. Its cloud-based patented application eliminates physical lines by allowing customers to instead join a virtual queue by mobile phone, website, or via an on-site kiosk. With its learning algorithms, QLess delivers more accurate wait times via text or phone message and notifies customers when it's their turn. QLess queue management software is being used by a diverse range of industries. Key partnerships include Vodafone, Dow Chemical, Renown Medical Group, the University of Texas, as well as government offices in Michigan, Nevada, Texas, New Jersey, Kansas, and many more.
QLess CEO Alex Backer said, "We are proud to partner with Wellington Financial, a distinguished firm with vast resources. Our alliance will help accelerate growth even further and support our vision to eliminate customer lineups around the planet."
Eric Speer of Wellington Financial added, "QLess' impressive growth and glowing client reviews emphasize the global need for a transformative queue management solution. Not only has the company improved the customer experience, but employees also benefit from manageable scheduling and a more pleasant interface with their customers. We are excited to be partnering with this successful company as they endeavor towards a world without lines."
About Wellington Financial LP
Wellington Financial LP is a privately-held specialty finance firm providing term, venture and amortizing loans up to $40 million. Wellington Financial LP is currently managing a $900 million investment program with offices in Menlo Park, Santa Monica and Toronto. Wellington Financial LP is managed by a partnership controlled by fund management and Clairvest Group Inc. (CVG:TSX), who jointly have contributed a large financial stake to the Fund. LPs include several of Canada's largest institutional investors, crown corporations, financial institutions and pension funds. Please visit the fund website at www.wellingtonfund.com.
About QLess, Inc.
QLess began in 2007 by co-founders Alex Bäcker and Tim McCune who envisioned a "world without lines" and set out to provide a solution to this global problem. The QLess platform eliminates lines and waiting room waits, reduces operating costs, increases staff productivity, and boosts customer satisfaction. To date, QLess has saved 50 million customers more than 1,400 years of time waiting in line. Visit www.qless.com to learn more.
SOURCE Wellington Financial LP
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