America’s Largest Steel Producer is Lead Investor
in SaaS Connection Optimization Company
Qnect is welcoming Nucor Corporation (NYSE:NUE) as the lead investor for Qnect’s $3.8 million funding round. Qnect provides software and digital engineering to optimize connections and production throughput for better steel project efficiency.
“We are proud to be able to partner with Nucor. Their investment recognizes the power of our software and is a gratifying endorsement from such a prominent leader in the steel industry,” says Jef Sharp, CEO of Qnect. “Qnect helps everybody in the industry with early data and optimization cost benefits that make steel the best choice.”
[div class="quotebox"][quote]Nucor is looking forward to working with Qnect as it delivers on its vision of bringing significant efficiencies to the design, fabrication, and erection of steel structures and provides stewardship to the construction process.[/quote][byline style="text-align:left;"]John Hollatz, President, Nucor[/byline][/div]
Introduced to the market in April 2016, Qnect’s cloud-based connection software is designed for steel detailers, fabricators, engineers and others involved in the structural steel workflow. Qnect projects have recognized savings from earlier delivery of shop drawings, improved fabrication throughput, reduction in connection costs, and streamlined approvals and revisions.
With Nucor’s investment, Qnect will strengthen its market position in North America and key international markets.
“This investment in Qnect emphasizes Nucor’s commitment to continuous improvement, our dedication to our customers and our belief that technology will continue to drive the steel industry,” said John Hollatz, President of Nucor’s Vulcraft / Verco Group. “Nucor is looking forward to working with Qnect as it delivers on its vision of bringing significant efficiencies to the design, fabrication, and erection of steel structures and provides stewardship to the construction process.”
Nucor and its affiliates are manufacturers of steel products, with operating facilities primarily in the U.S. and Canada. Products produced include: carbon and alloy steel — in bars, beams, sheet and plate; hollow structural section tubing; electrical conduit; steel piling; steel joists and joist girders; steel deck; fabricated concrete reinforcing steel; cold finished steel; steel fasteners; metal building systems; steel grating; and wire and wire mesh. Nucor is North America's largest recycler.