Operix Secures Investment from M33 Growth
NORTH BILLERICA, Mass., Aug. 24, 2022 (GLOBE NEWSWIRE) — Founded in 2007, Operix, formerly known as IFS Core, provides software solutions for specialty contractors that allow for more efficient management of field operations personnel and processes through seamless integrations with core accounting platforms. Originally architected to support Sage accounting platforms, Operix has provided innovative and effective field operations solutions for Sage customers since its inception. The company now plans to expand into additional accounting platforms starting with its recent release of Operix Service Operations for QuickBooks Online users.
“We believe our name change to Operix reflects our history of providing proven construction technology solutions to field operations teams,” said Jay Annarelli, Co-Founder & CEO of Operix. “We continue to partner closely with Sage to provide their customers with a world-class field operations solution and we are equally excited about the launch of our Service Operations product for QuickBooks Online customers.”
In addition to the rebranding, Operix has also secured an investment from M33 Growth, a Boston-based venture and growth-stage investment firm. The investment from M33 Growth aims to enhance Operix’s product and customer experience capabilities, fueling product innovation for, and improving engagement with, customers in the construction and service industries.
“Operix provides a differentiated and valuable solution that drives efficiency in the field through to the back office for some of the top MEP companies,” said Mike Anello, Managing Director & Founding Partner of M33 Growth. “Their solution has empowered nearly 1,000 B2B specialty trade contractors to drive profitable growth and operational efficiencies and most importantly saved both the field employees and back-office teams countless hours of their time. Core to our investment is the customer centric approach Jay and Adam have taken for over a decade and we look forward to furthering that through our added investment in product and customer success.”
M33’s investment in Operix comes as the company expands its current line of products to offer customers more features to improve operational efficiency, as well as to reach new customers through additional platform integrations. With approximately 30,000 users in the construction technology vertical, Operix offers industry leading integrations with Sage Software’s Construction and Real Estate accounting platforms, including Sage 100 Contractor, Sage 300 Construction and Real Estate, and Sage Intacct Construction.
The evolution of the Operix platform also brings increased functionality and compatibility with Sage Intacct and as well as QuickBooks Online. As with previous versions, the newest Operix releases will deliver true accounting integration for customers, both growing sales and improving the bottom line.
“Anytime we bring a product to market,” added Annarelli, “we strive to provide the most robust accounting integrations allowing us to extend and enhance the value of core accounting platforms while simultaneously improving field operations efficiency.”
Operix engineers and manages Sage Service Operations and Sage Field Operations — products sold exclusively by Sage — as well as Operix Service Operations seamlessly integrating with the industry-leading accounting platforms.
To learn more, visit www.operix.com.
About M33 Growth
M33 Growth is a venture and growth-stage investment firm that partners with founders and CEOs who have successfully bootstrapped their companies to strong growth and are positioned to rapidly scale their companies and breakthrough as market leaders. With deep experience fueling sales and marketing engines, driving acquisitions, and building value through data assets, M33 Growth seeks to propel portfolio companies to succeed in their markets. Founded by veterans of renowned investment firms with considerable operational experience, the Boston-based firm seeks to invest in companies in the software, healthcare, and services sectors throughout North America.
Learn more at www.m33growth.com.