Quext, a Lubbock, Texas-based technology company that offers a technology platform for the multifamily industry, secured $63m in funding based on a post-money valuation of $350m.
The identities of the backers have not been disclosed.
The company will use the funds to expand its smart apartment technology platform and IoT inventory, protect its intellectual properties, and increase its sales and customer support teams.
Quext is led by Dave Gilles, CEO. It offers a cloud-based smart apartments technology platform with innovations including internet of Things, digital human support, and fintech. 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.