AutoQuotes, a Jacksonville, Florida-based technology company for the foodservice equipment and supplies industry, received an investment from Luminate Capital Partners.
The amount of the deal was not disclosed.
The company intends to use the funds for the continued growth of AutoQuotes and CaterQuotes, its U.K.-based subsidiary.
AutoQuotes is a tech company for the foodservice equipment and supplies (FES) industry. Its AutoQuotes’ (AQ) and CaterQuotes’ (CQ) software platforms connect foodservice equipment manufacturers and suppliers and their customers to market, configure and quote equipment and supplies. AQ and CQ enable its publishers to position their products to more than 21,000 dealers, reps and consultants in North America and Europe and provide services in the design of commercial kitchens and order tracking.
The platforms publish over 800 manufacturers and suppliers, generating over $70 billion in quotes annually.
Following the deal, Kent Motes Jr. and Alex Motes will continue to maintain representation on the Board of Directors for the Motes family. Additionally, Hollie Haynes, Mark Haidet, Scott Kingsfield, and Sanjay Palakshappa from Luminate Capital Partners will join the board as the majority shareholder.