Content management company SpringCM raises $18M

SpringCM provides cloud collaboration tools for enterprise companies, including Google and Facebook

Financial trends and news by Steven Loeb
April 17, 2014
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I remember a few years ago seeing a commercial on TV where someone mentioned "the cloud" and having absolutely no idea what he was talking about. Things have obviously changed a lot since then and now the cloud become pervasive.

There are a slew of cloud storage companies out there, from Box to Dropbox to Google Drive but while businesses have also turned to the cloud, but they have different needs than the individual. Enterprises need to have files that can easily be shared and  collaborated on, as well as secured to a higher degree.

Content management company SpringCM has a platform that is believes offers the best choice for enterprises seeking a secure and easy to use cloud solution. And now the company has raised $18 million in new funding to make that a reality, it was announced on Thursday.

The new money came from existing investors including Foundation Capital, as well as new financial partners including Square 1 Bank and Goff Capital.

SpringCM had previously raised at least $21 million, including $15 million from Foundation Capital, North Bridge Venture Partners, and Silicon Valley Bank in September 2010, and another $6 million in November of 2013. This latest round brings its total funding to above $50 million.

Founded in 2005, SpringCM  provides cloud document management and workflow solutions for enterprise, and other organizations. Its applications help global brands and public agencies, including Google, Facebook, Entegris, and the Commonwealth of Virginia, to use their content in order to increase their revenues, cut costs, mitigate risk and engage both employees and customers. 

The SpringCM cloud content management system includes features such as document management, e-mail, workflow, scanning, image capture, file sharing, and collaboration, all of which are built right into the platform. It makes content easier to find and share, as well as to collaborate with people both inside, and outside, an organization. 

Companies can also replace manual tasks with automation, and streamline complex processes through the platform. The idea is to help cutsomers go beyond only storing, and sharing content in the cloud, Greg Buchholz, Founder and CEO at SpringCM, said in a statement. 

“As the only provider of Content Cloud Services built for the enterprise from day one, we have a unique opportunity to advance this green-field market to levels unattainable by simple file sharing services," he said.

"We have the product, the team and the expertise to win. We appreciate the support of our investors in helping us scale to realize our vision, and we especially appreciate the support of our nearly 400 customers who are using SpringCM to drive big business outcomes.”

The Chicago-based SpringCM says that it will use the funding to scale its direct sales and channel efforts, in order to address growing demand, which it says will come from a few different places, including new regulatory mandates, particularly in healthcare and government, "which place greater requirements on how content is created, reviewed, approved and shared both inside and outside an organization."

The company also sees enterprise IT organizations restricting the use of consumer-based cloud storage services because of the lack of security and management features. 

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Description: SpringCM is the leader in Content Cloud Services for the enterprise. We deliver Clearly More than cloud storage and file sharing. Our app...