Qorus Software has received a “significant” initial round of funding from South Africa private equity firm Horizon Equity Partners. No financial terms were disclosed. With offices in Cape Town, South Africa and London, Qorus Software is a Microsoft partner and a provider of document automation solutions for Microsoft Office and SharePoint.
Cape Town, South Africa (PRWEB) November 07, 2013
Qorus Software, a Microsoft Partner and provider of document automation solutions for Microsoft Office and SharePoint, has secured a significant initial investment from Horizon Equity Partners, one of South Africa’s longest established private equity firms and a leading provider of growth and buyout capital to small and medium sized enterprises.
Qorus Software technology makes the creation of customized documents, such as sales proposals, financial reports, insurance policies, legal contracts and sales presentations, much more efficient by adding document automation functionality to Microsoft SharePoint and Microsoft Word and PowerPoint. Highly customized documents and presentations are created by dynamically merging data stored in SharePoint lists, CRM systems and virtually any enterprise system with Word and PowerPoint templates. Based in Cape Town, South Africa, the company opened office in the United Kingdom in 2012 and now services customers in South Africa, the United Kingdom, Canada and the United States.
Horizon Equity Partners has made a minority equity investment in Qorus Software to enable the company to meet the growing demand for its document automation solutions for Microsoft SharePoint and to take advantage of the industry trends driving this demand.
“Right now, we believe that document automation solutions can take advantage of an accelerating worldwide trend of greater regulation and increasing legal complexity that obligates companies to ensure a far higher degree of completeness and accuracy in their external documentation,” says Richard Flett, Managing Director of Horizon Equity Partners. “Qorus has not only developed an industry leading set of solutions for this market, but has demonstrated their commercial viability with significant sales to demanding blue chip clients in the USA, Canada, the UK, as well as in South Africa.”
“This is the financial boost we need to fund our sales and marketing plans for a formal entry into the North American market and expansion of our existing presence in the UK,” says Ray Meiring, Qorus Software CEO and founder. “We have already begun recruitment of a dynamic team of experienced individuals in the US who will drive our initiatives locally and support our existing North American customers.”
This is the sixth investment made by Horizon Fund III, a USD$ 30 million (ZAR 300 million) investment fund formed in 2008. The company has a long track record of investing in South African firms that develop their own IP for application in both local and international markets.
“Horizon is an attractive private equity partner for us,” continues Meiring. “The experience they’ve gained from their investments in other South African firms expanding into international markets means they can provide us with relevant guidance and accelerate our entry into new markets, such as North America. In addition, their investment in other document automation software providers in the past means we have a partner who already has a good understanding of our business and industry.”
“Led by an outstanding management team under Ray Meiring, we believe the company is set for rapid global growth over the next few years,” concludes Flett.
ABOUT HORIZON EQUITY PARTNERS
Established in 1996, Horizon Equity Partners of South Africa’s longest established private equity firms and is widely recognized as a leading provider of growth and buyout capital to small and medium sized enterprises. Key executives have collectively initiated and managed over 40 private equity and venture capital investments both locally and internationally. The firm has invested in over 20 South African companies, most of which have been profitably realized and resulted in strong positive returns to the funds’ investors. Horizon is currently investing its Fund III, a generalist fund that targets growth capital investments across a number of industry sectors, including but not limited to ICT.
For more information, please visit: http://www.horizonequity.co.za
ABOUT QORUS SOFTWARE
Qorus Software is a Microsoft Partner with a Gold Competency in Application Development and a provider of document automation solutions for Microsoft Office and SharePoint. Organizations such as Great-West Life, Hart Industries, EDF Trading, Generali International, Southeast Alabama Medical Center, Bibby Financial Services, Finex, Exeter Friendly Society, Drax Power, and JO Hambro use Qorus software to significantly reduce the time and effort required to customize and generate their high value Word documents and PowerPoint presentations, such as sales proposals and presentations, financial reports, contracts, and advisory reports. Benefits include significant reductions in time and effort required to customize and generate documents, reduction in human error, adherence to corporate guidelines, and consistency in branding, style and formatting of documents. Qorus Software has offices in Cape Town, South Africa and London, UK.
For more information, please visit: http://www.qorusdocs.com.