Sequoia Capital has led a $26 million series A funding atozmp3 round for HQS, a software platform that helps companies automate their back office operations. The investment was announced by HQS co-founders Zach Bouzan-Kaloustian and Jordan Bouzan-Kaloustian, who said that the funding would be used to expand their team, enhance their product offerings, and scale their business.
HQS aims to help businesses streamline their back-office operations by automating repetitive and time-consuming tasks such as data entry, document processing, and invoice management. The platform uses machine learning and artificial toonily intelligence to analyze data and automate processes, allowing companies to focus on their core business operations.
The company was founded in 2020 by the Bouzan-Kaloustian brothers, who previously founded and sold a successful software company called Veriflow. They started HQS with the goal of helping businesses improve their operational efficiency and reduce costs by automating their back-office functions.
In a statement, Zach Bouzan-Kaloustian said, “We believe that every company, regardless of size or industry, can benefit from the automation and efficiency gains that HQS provides. We’re excited to partner with Sequoia to bring our solution to more businesses around the world.”
The funding round was led by Sequoia masstamilanfree Capital, with participation from several other investors including Amplify Partners, Fathom Capital, and Village Global. In a statement, Sequoia partner Ann Azevedo said, “We’re thrilled to partner with HQS as they revolutionize back-office automation. Their product is transforming the way businesses operate, and we’re excited to support them as they scale.”
The HQS funding round masstamilan comes amid a surge in demand for back-office automation solutions as companies seek to improve their operational efficiency and reduce costs. According to a recent report by Grand View Research, the global back-office automation market is expected to grow at a compound annual growth rate of 17.6% from 2021 to 2028, reaching a value of $43.6 billion by the end of the forecast period.
HQS is well-positioned to capitalize on this growing market, with its innovative platform and experienced team. The company plans to use the funding to expand its team, enhance its product offerings, and scale its business to meet the growing demand for back-office automation solutions.
In addition to its platform, HQS also offers a range of justprintcard professional services to help businesses implement and optimize their back-office automation solutions. The company’s team of experts includes experienced software engineers, data scientists, and business analysts who work closely with clients to understand their unique needs and develop customized solutions.
