KnowledgeTree Closes $4.75 Million Venture Capital Round, A Strong Endorsement of Company's Success Turning Documents Into Business Assets
Cloud-Based Business Applications Provider Invests as Market Adoption of its Document Management Solutions Accelerates
RALEIGH, N.C., July 9, 2012 /PRNewswire/ -- KnowledgeTree, a leading provider of cloud-based solutions that help companies "rule their documents," today announced the closing of a $4.75 million Series B round of venture capital investment. This round includes River Cities Capital Funds, Core Capital Partners, Hatteras Funds and lead Series A investor Hasso Plattner Ventures Africa. KnowledgeTree will use the new funds to capitalize on significant interest in the company's social and enterprise-focused document management solutions.
KnowledgeTree makes organizations across hundreds of global clients more efficient. Its cloud-based tools help companies such as Alcatel-Lucent, Inmarsat and Vanderbilt University create, discover and manage business documents anywhere. Delivered through the browser as software-as-a-service (SaaS) and through powerful mobile applications, KnowledgeTree can be customized by business users without developer support, providing rapid return on investment.
The company's solutions solve the document management challenge by uniting structured and social tools. This allows global teams to co-author documents efficiently, discover valuable content across the organization and accelerate the approval of critical business documents.
In addition to the funding, KnowledgeTree will gain two additional members to its board of directors. Edward McCarthy, Raleigh-based managing director of River Cities Capital Funds, and Will Dunbar, managing director of Core Capital Partners, will join the board.
"Every single organization struggles to create, organize and manage its business documents. That's why this is a multi-billion dollar market," said McCarthy. "But what makes this opportunity special is KnowledgeTree's enterprise-ready, cloud-based solution. The team has already proven that potent combination at hundreds of companies globally. Now I'm excited to see it further disrupt the historic players in this space."
"At many of the world's largest organizations, KnowledgeTree has proven the value of a "structured social" approach to managing documents," said Daniel Chalef, chief executive officer of KnowledgeTree. "With the new funding, KnowledgeTree will rapidly scale our success in customer acquisition while evolving our product's features to meet the market's need for business-centric and social document management tools."
KnowledgeTree helps companies turn documents into business assets. Hundreds of global companies use KnowledgeTree to create, discover and manage the business documents they depend on every day. Our cloud-based tools are structured for business and boost collaboration, with no developers required. That means our clients save thousands of dollars per employee each year. Find out why Network World called KnowledgeTree one of the 10 SaaS companies to watch. And learn why Miramax Films, Alcatel-Lucent, Genesys, Fuji Chemical and many other global companies use KnowledgeTree to bring order to their business documents.
KnowledgeTree is venture-backed and headquartered in Raleigh, N.C. The company can be found online at www.knowledgetree.com.
River Cities Capital Funds River Cities has a proven track record of partnering with management teams to build some of the most successful venture backed M&A and IPO exits throughout the Midwest and Southeast. With over $460 million under management and over 85 investments conducted over fifteen years, River Cities has established itself as a preferred partner among the regional entrepreneurial and broader venture capital communities. River Cities invests in expansion stage information technology and healthcare companies with revenues from $2 - $20 million. Software, Software as a Service, technology enabled services, healthcare services and medical devices are of particular interest. The firm is now making investments on behalf of its most recently raised Fund V.
Core Capital is a venture capital firm headquartered in Washington, DC. The firm currently manages $350 million and provides capital to high-growth technology companies. Core Capital focuses on the kinds of disruptive, "core" technologies that enable or enhance data and communication, financing emerging opportunities in wireless, security, video, internet media, and software. To date, the firm has backed over 40 companies, with successful investments in a wide range of information technologies and business services.
Hasso Plattner Ventures Africa
Hasso Plattner Ventures Africa, based in Cape Town, South Africa, is the largest technology focused venture capital fund in Africa with most of its capital committed by SAP co-founder and Chairman Prof. Dr. Hasso Plattner. Hasso Plattner Ventures Africa, led by Marc Balkin, invests in innovative software, telecommunications, internet and clean energy companies in emerging markets with the potential to grow globally. The portfolio includes eight companies, including KnowledgeTree and fast-growing African mobile telecommunications company Inala Technologies. We turn local technologies into global assets. More information can be found on www.hp-ventures.co.za
About Hatteras Funds
Hatteras Funds provides unique alternative investment solutions for financial advisors and their clients. We believe that all investors should have access to the same sophisticated investment approach and superior portfolio management talent as the largest institutions. A boutique alternative investment specialist founded in 2003, Hatteras Funds offers a suite of innovative products designed to help financial advisors allocate to alternative investments. The Raleigh, N.C.-based firm manages over $2 billion in alternative investment strategies for a broad range of institutions, endowments, pensions and high net worth individuals. For more information, please visit hatterasfunds.com.
© 2012 KnowledgeTree. All other brand names are trademarks of their respective companies.
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