ConnectWise Capital Invests in QuosalBy Channel Insider Staff | Print
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The investment arm of ConnectWise has injected new funding into Quosal, a quote and proposal management all-in-one software solution for IT solution providers. The investment marks ConnectWise Capital's third, and the company is actively seeking more investments for its $20 million fund.
ConnectWise Capital has made its third investment, adding Quosal, developer of an all-in-one software platform for quote and proposal preparation, delivery and management. The investment arm of ConnectWise, created to incubate emerging IT channel technologies and solutions for IT solution providers has made previous investments in remote monitoring management solution LabTech and hardware-as-a-service provider CharTec.
"Everything in a solution provider's business starts with a quote and now with Quosal that quote will seamlessly flow into ConnectWise," said Arnie Bellini, ConnectWise co-founder and chief executive officer, in a statement. "Adding quote and proposal software with investments we've previously made in RMM and HaaS allows us to offer a highly integrated, end-to-end suite to the IT Nation. Our partners can now take full control of all aspects of their IT business."
The investment heats up the arms race between ConnectWise and PSA rival Autotask, which runs the VARStreet family of quoting and e-commerce tools.
ConnectWise said that Quosal automates the quote and proposal process to improve productivity, accuracy and speed in winning new business for solution providers. The result, according to ConnectWise will be dramatically improved sales performance through complete automation of the sale-to-service-delivery process chain.
ConnectWise Capital's previous investments, LabTech and CharTec, have seen sales growth of 2,300 percent since being funded by ConnectWise Capital, the company said in a statement.
And ConnectWise Capital continues to actively seek new investments with its $20 million fund, looking for channel-only companies that offer IT solution providers opportunities to manage resources their clients rely on in a "Modern Office" such as VoIP, cloud computing, security, email management, network storage, and mobile workforce support.