Roanoke’s newest investing firm is betting millions on its first local company: a 23-year-old software firm with a swanky new office and plans to finally shed its low profile.
Qualtrax only became a standalone business last year, after two decades inside Christiansburg’s CCS Inc. (now FoxGuard Solutions), which had made compliance software since the 1980s.
Qualtrax is preparing to make its public debut with a $3 million cash infusion.
The funding was led by Common Wealth Growth Group, the investing firm launched last year by Roanoke’s former Interactive Achievement CEO Jon Hagmaier. Other investors include San Francisco venture capital firm Lyden Capital and CCS executives Marty Muscatello and Tim Lawson.
With the investment announced Tuesday, Qualtrax President Amy Ankrum said she hopes to see things take off with more employees and better brand exposure right in Virginia Tech’s back yard.