Qmarkets Company Profile

Background

Overview

Founded in 2006, Qmarkets is a leading provider of enterprise-grade innovation management software. The company specializes in collective intelligence solutions that enable organizations to engage stakeholders—including employees, partners, and customers—to generate and implement impactful ideas. Qmarkets' mission is to drive enterprise innovation by offering a comprehensive suite of tools that facilitate idea management, continuous improvement, trend management, technology scouting, and innovation portfolio management. With a global presence, Qmarkets serves over 300 enterprise customers across more than 30 countries, impacting over 6 million users and contributing to customer ROI exceeding $1 billion.

Key Strategic Focus

Core Objectives and Specialization

Qmarkets focuses on providing an end-to-end innovation management ecosystem tailored to the unique needs of large organizations. The company's core objectives include:

• Idea Management: Facilitating the collection, evaluation, and implementation of ideas to drive new products, services, and processes.

• Continuous Improvement: Embedding processes to identify and implement operational enhancements.

• Trend Management: Building collaborative knowledge bases to identify and leverage emerging industry trends.

• Technology Scouting: Connecting organizations with external technological opportunities, including startups and academic institutions.

• Innovation Portfolio Management: Tracking and measuring the impact of innovation initiatives over time.

Key Technologies Utilized

Qmarkets employs a suite of proprietary technologies, including:

• Q-ideate: An idea management platform that nurtures a culture of collaboration to gather, manage, and implement impactful ideas.

• Q-optimize: A continuous improvement tool designed to discover opportunities for operational excellence.

• Q-trend: A trend management system that helps organizations stay ahead by identifying disruptive forces in their industry.

• Q-scout: A technology scouting platform that connects companies with external innovation opportunities.

• Q-impact: An innovation portfolio management tool that tracks and measures the value delivered by innovation projects.

Primary Markets Targeted

Qmarkets serves a diverse range of industries, including manufacturing, finance, healthcare, and technology. The company's solutions are designed to address the innovation challenges faced by large enterprises seeking to engage stakeholders and drive meaningful change.

Financials and Funding

Funding History

In August 2017, Qmarkets secured $5.2 million in funding to expand its product roadmap and increase its presence in the U.S. market. This funding followed a record year in 2016, during which the company experienced a 50% growth in revenue and a 27% increase in the number of customers.

Revenue Growth

Qmarkets has demonstrated consistent revenue growth:

• 2021: $4.7 million

• 2023: $6.8 million

• 2024: $10.8 million

This growth reflects the company's expanding user base and increasing adoption across various industries.

Technological Platform and Innovation

Proprietary Technologies

Qmarkets' platform is built on a flexible and scalable architecture, allowing organizations to tailor the system to their specific needs. The company's products are packed with cutting-edge tools and capabilities, including AI-enhanced features that automate processes and facilitate efficient idea evaluation and implementation.

Significant Scientific Methods

The platform incorporates advanced analytics and customizable dashboards, enabling organizations to measure, track, and share their innovation pipeline and ROI with stakeholders. Additionally, Qmarkets' AI engine automates processes, saving time and helping focus on high-potential opportunities.

Leadership Team

Executive Profiles

• Noam Danon: Founder & CEO. An expert in collective intelligence and collaborative innovation management, with over 20 years of experience in managing software product development.

• Michael Stilger: SVP Sales. Co-founder with extensive experience in global sales and innovation management.

• Sivan Leshem: VP Product & Support. Oversees product development and customer support, ensuring alignment with client needs.

• Guy Cohen: CFO. Manages the company's financial strategy and operations.

• Elad Ron: VP R&D. Leads research and development initiatives to drive technological innovation.

• Ofir Platner: VP Marketing. Directs marketing strategies to enhance brand visibility and market penetration.

• Ilona Gochman: VP Customer Success. Ensures client satisfaction and success through dedicated support and guidance.

Competitor Profile

Market Insights and Dynamics

The innovation management software market is experiencing significant growth, driven by organizations' increasing need to foster innovation and maintain competitive advantage. Key trends include the integration of AI and machine learning to enhance idea evaluation and implementation processes.

Competitor Analysis

Qmarkets operates in a competitive landscape with several notable players:

• Brightidea: Offers an innovation management platform focused on idea collection and implementation, with features like program management, idea boxes, and hackathons.

• IdeaScale: Provides a cloud-based innovation software platform that enables organizations to involve public and private communities in idea generation and evaluation.