The investment will further enhance the company's position as a technology leader for professional service firms
AUSTIN, Texas & SAN FRANCISCO — (BUSINESS WIRE) — March 24, 2021 — BQE Software, a leading cloud-based software provider to professional service firms, announced a significant growth investment from Serent Capital, a growth-focused firm that invests in technology and tech-enabled services companies.
BQE Software's flagship product, BQE Core, is a native cloud-based platform that centralizes and automates time tracking, billing, project management, accounting, client relationship management (CRM), human resource management, and ePayments in a single AI-powered platform.
BQE Core is designed to help professional services organizations, such as engineering, architecture, consulting, accounting, and legal firms, solve their most significant challenges and become more efficient, productive, and profitable. The company offers a wide range of integrations, eliminating the need for manual data entry and allowing customers to manage their entire business from one platform.
Since its founding in 1995, the company has served 400,000 users globally, and helped its customers manage close to $10 billion in annual billing and invoicing.
BQE will leverage its partnership with Serent to grow investments in its product platform (including the recently released new CRM and HR offerings), expand its customer success function to better serve its existing customers, and scale new customer acquisition efforts. BQE will also be leveraging the resources of Serent to pursue strategic acquisitions that expand its presence within 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," stated Shafat Qazi, Founder and CEO of BQE. He continued, "With Serent's experience, support and resources, we look forward to accelerating our product innovation while simultaneously helping more customers operate efficiently through BQE's award-winning platform, regardless of where they are located geographically."
"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. He continued, "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."
BQE represents Serent's 4th platform investment in the professional services automation (PSA) market. Serent's prior investments in this end-market include Actionstep, Apex HCM, and Avionté.
About Serent Capital
Serent Capital invests in growing businesses that have developed compelling solutions that address their customers' needs. As those businesses grow and evolve, the opportunities and challenges that they face change with them. At Serent Capital, principals have firsthand experience capturing those opportunities and navigating these difficulties through their experiences as CEOs, strategic advisors, and board members to successful growing businesses. By bringing its expertise and capital to bear, Serent seeks to help growing businesses thrive. For more information on Serent Capital, visit www.serentcapital.com.
About BQE
BQE Software develops innovative business management solutions for professional services firms. Its flagship product, BQE Core®, is a native cloud-based solution that centralizes and streamlines the way firms enter and use data for time tracking, billing, project management, and accounting. BQE Core gives them the speed and insight necessary to rapidly make informed decisions, increase productivity, and grow profits. BQE is trusted by leading architects, engineers, accountants, attorneys, IT specialists, and business consultants. For more information, visit www.bqe.com.
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