Qwaq secures $7 million in funding
Qwaq, Inc., creators of virtual spaces for the enterprise, has secured $7 million in its first institutional round, co-led by Alloy Ventures and Storm Ventures with participation from previous investors. The funds will be used to expand Qwaqâ€™s sales, marketing, product and engineering teams and initiatives. Ammar Hanafi, general partner at Alloy Ventures, and Alex Mendez, founding general partner at Storm Ventures, will join Qwaqâ€™s board of directors.
Qwaq Forums, a secure virtual workspace application released by Qwaq earlier this year, significantly enhances the productivity of distributed teams by bringing critical resources together in a virtual place, as if they were in the same physical location. With Qwaq Forums, users have all the tools and collaboration capabilities they need to work more effectively together to collectively establish workflow steps, create or review information in software applications, and evaluate designs in 2D and 3D, all while discussing topics using built-in text and voice chat. Qwaq Forums virtual workspaces are always available so users can return to a forum at any time to access and view changes that have occurred since they last visited the virtual space.