Parent of Texas Retail Provider Raises $63 Million, Said To Be Based On $350 Million Valuation -- EnergyChoiceMatters.com

Parent of Texas Retail Provider Raises $63 Million, Said To Be Based On $350 Million Valuation

June 16, 2022

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Copyright 2010-21 EnergyChoiceMatters.com
Reporting by Paul Ring • ring@energychoicematters.com

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Quext, a Texas-based technology and software company that offers a technology platform for the multifamily industry including a "cloud-based apartment community nerve center," announced that it secured $63 million with support from a network of private investors.

As exclusively first reported by EnergyChoiceMatters.com, Quext Energy, LLC, which is essentially part of the Quext family of companies, has applied for an Option 1 Texas retail electric provider certificate

"This fundraising round is based on a post-money valuation of $350 million and included notable technologists and innovators," Quext said

"The funds raised will allow Quext to further develop its smart apartment technology platform, grow IoT inventory to meet customer demands, further safeguard its intellectual property, and expand its best-in-class sales and customer success teams, amongst other initiatives," the company said

The company said that, "Quext’s most notable accomplishments range from inventing a first-of-its-kind and patented holistic IoT solution for the multifamily market powered by a custom manufactured thermostat hub with integrated low-power wide area networks (LPWAN), as well as launching several other distinct products that incorporate AI-powered capabilities, CMS integrations and fintech solutions. Its products include Quext IoT, Quext Digital Human, Quext Connect, Quext Websites, alongside a pipeline of continued disruptive innovation."

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