Venture Capital News: Qorus Secures $5M Financing
SEATTLE, WA, Qorus has completed a $5 million round of financing led by WestRiver Group.
Qorus, one of the world's premier sales enablement and proposal management platforms for remote sales teams announced today it has completed a $5 million round of financing led by WestRiver Group.
This recent investment builds on an expanding presence for Qorus in North America, which saw a growing roster of clients, key executive appointments, critical partnerships and increasing market momentum in the high growth area of AI powered sales enablement and proposal management. Qorus recently appointed marketing veteran Jennifer Tomlinson from Microsoft Corp, as the Company's EVP of Marketing and expanded partnerships with Salesforce and others.
"Qorus sits at the heart of your revenue generation hub, helping you work anywhere to quickly and easily build compelling and targeted proposals, track their performance and provide cross group collaboration among your sales, marketing and business development teams," says Qorus Chief Executive Officer Ray Meiring. "Having the financial support and expertise of WestRiver Group will help us accelerate the execution of our vision, with the added benefit of experience, perspective and industry relationships."
Built on Microsoft Azure, Qorus integrates seamlessly with Microsoft Office, Dynamics CRM and Salesforce, to enable companies to build and deliver highly targeted proposals and sales materials to prospects in minutes versus hours. Qorus also has a built-in analytics dashboard that enables sales teams to track proposal performance and foster a real-time sales strategy.
The Qorus platform has been adopted by Microsoft who uses Qorus to manage and distribute their sales and marketing content to its Microsoft Partner Network. Presently, more than 4,000 users within the Microsoft Partner Network use Qorus each day to accelerate their sales efforts.
"WestRiver's investment in Qorus is based on our thesis that the sales enablement market will continue to grow at an accelerating pace as companies seek to optimize business results through the adoption of next generation technologies including the use of machine learning and AI," said Anthony Bontrager, Managing Director with WestRiver Group. "We believe Qorus, with its superior technology platform, is perfectly positioned to provide remote sales teams with the advanced tools they need to stay productive in today's challenging economic environment."
WestRiver Group Managing Directors Anthony Bontrager and Laurel Buckner will join Qorus' Board of Directors.
Qorus is the sales enablement and proposal management platform for remote teams. We empower your sales force to close deals faster. With Qorus, remote sales teams can deliver customized proposals and build personalized content in minutes versus hours, while tracking effectiveness of sales materials to tailor follow up communication.
Qorus is a diverse, vibrant group with headquarters in Bellevue, Washington and offices in Cape Town, South Africa.
About WestRiver Group
WestRiver Group is a collection of investment funds providing integrated capital solutions to the global innovation economy. The Seattle-based venture debt and equity company boasts a growing portfolio of investments in technology, life sciences, energy and experiential sectors.
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