IQMS, a Paso Robles, CA-based manufacturing ERP and MES software provider, received a growth equity investment of undisclosed amount.
The round was led by Technology Crossover Ventures (TCV) with participation from Banneker Partners.
The company intends to use the funds to accelerate growth through investment in sales, marketing and product development.
Following the deal, IQMS founders, Randy and Nancy Flamm, will retain a substantial ownership position in the company.
Founded in 1989, IQMS provides extended ERP and MES software, as well as hardware solutions, for the repetitive, process and discrete manufacturing industries. Its real-time solution is utilized by several thousand users across a variety of end markets including automotive, medical, packaging, consumer goods, food and beverage and chemicals.
Its EnterpriseIQ offers more than 25 modules, including accounting, quality control, supply chain, shop floor, quality management and CRM.