Q4, a US-based developer of cloud software to assist in business finance reporting, has completed a $38m series C round featuring enterprise technology provider OpenText’s Enterprise Apps Fund (OTEAF).
Napier Park Financial Partners, the private equity arm of asset manager Napier Park Global Capital, led the round, which included investment firm Information Venture Partners and growth equity firm Espresso Capital.
Q4 has created a software platform that includes real-time quantitative analytics to help businesses compile illustrative and accurate investor relations information.
The funding will be used for sales and marketing, acquisitions and the further development of Q4’s platform. Dan Kittredge and Ned May, managing directors of Napier Park Financial Partners, will join the company’s board of directors.
Darrell Heaps, Q4’s chief executive, said: “This capital will enable us to accelerate our product roadmap, pursue acquisitions, drive our global sales and marketing efforts and continue executing on our vision of becoming a preeminent global capital markets platform.”
Q4 has now raised a total of $68m, OTEAF having co-led its $22m series B round in 2016 with Information Venture Partners and HarvourVest Partners, investing alongside Kensington Capital Partners, Plaza Ventures, Accomplice and Emerillon Capital.
Plaza Ventures had previously led the company’s $5m series A round in 2015, a round that also featured Accomplice and debt financing from Silicon Valley Bank.
RBC Capital Markets was lead placement agent and exclusive financial advisor for Q4 in the latest round, while Oslers supplied legal services.