Quext Raises $63M; Valued At $350M


Quext, a Lubbock, Texas-based technology company that offers a technology platform for the multifamily industry, secured $63m in funding based on a post-money valuation of $350m.

The backers were not disclosed.

The funds raised will allow the company to further develop its smart apartment technology platform, grow IoT inventory, further safeguard its intellectual property, and expand its sales and customer success teams, amongst other initiatives.

Led by Dave Gilles, CEO, Quext provides a cloud-based smart apartment technology platform whose innovations include internet of things, digital human customer support, broadband internet, and fintech solutions. Its patented holistic IoT solution for the multifamily market is powered by a custom manufactured thermostat hub with integrated low-power wide area networks (LPWAN). Other distinct products incorporate AI-powered capabilities, CMS integrations and fintech solutions. Its products include Quext IoT, Quext Digital Human, Quext Connect, and Quext Websites.

The company has also obtained multiple patents in the IoT and smart apartment space over the past several years, ensuring its intellectual property is protected while expanding its customer base and building strategic partnerships.