IQMS Finds Private Equity Funding

Paso Robles-based IQMS, a 25 year old developer of manufacturing ERP software, said Tuesday that it has raised a strategic growth equity investment from Technology Crossover Ventures and Banneker Partners. Size of the investment was not announced. The investment is the first, institutional round of funding for the company, which was founded in 1989. IQMS said it will use the investment for sales, marketing, and product development. According to IQMS, its founders, Randy and Nancy Flamm, will retain a "substantial" ownership position in the company. More information »