Queralt also secured required matching funds from institutional investors.
The company plans to use the financing to hire key employees as well as secure assistance in developing certain business and technology strategies.
Led by co-founder and president Michael Queralt, Queralt develops cloud-based applications for real-time monitoring and management of physical assets and people. The company’s iQ3 technology also enables users to actively track and monitor the environmental conditions in which they operate and work. The system works in a multitude of settings with a wide range of asset types.
Customers include companies in the industrial, financial, security, manufacturing and service industries, as well as in healthcare, educational and governmental organizations.