QLess Raises US$3.5 Million Growth Capital from Wellington Financial

Who wouldn’t want to be doing due diligence in Pasadena, California in February? But that’s not why we did this financing. It was for the greater good, with you in mind!

QLess has built a queue management software system that helps its clients optimize their customer experience process by providing an interactive platform for employees to manage customer service flow. Which gives the management teams of QLess’ clients real-time reporting and analytics to boost operational efficiencies.

More importantly, 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, as you’d expect. 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 is on a mission “to eliminate customer lineups around the planet.” Who doesn’t want that?

Our due diligence proved out the global need for a transformative queue management solution. Not only has QLess improved the customer experience, but employees using the system also benefit from manageable scheduling and a more pleasant interface with their customers. Naturally, we are excited to be partnering with Alex and his team as they endeavor towards a world without lines.

And because Wellington provides non-amortizing growth capital, QLess doesn’t have to worry about setting aside a chunk of this US$3.5M of capital for the eventual principal payments that come with term loans from banks or most of our competitors. It’s far better that our funding go towards growing their client base, which makes us a great fit for most mid-stage growth companies.

MRM