Open source enterprise content management (ECM) developer Nuxeo announced this week that it closed a $20 million funding round led by Goldman Sachs Private Capital Investing. This adds to the $10 million investment by Kennet Partners announced in June, bringing the total this year to $30 million.
Since Stefane Fermigier founded the company in 2000, New York City-based Nuxeo has raised just under $40 million in six rounds from three named investors.
Fueling Continued Software Development
CEO Eric Barroca told CMSWire the latest funding round would be devoted to the same focus as the previous: to increase the company's sales presence and customer presence in the U.S. and to expand internationally in Europe and Japan. Some of the investment will also fuel the continued development of Nuxeo's content and digital asset management platform.
“Today’s enterprises face increasing content and digital asset management challenges, especially when it comes to the increasing complexity, volume and diversity of digital content and its delivery channels,” CEO Eric Barroca stated in the statement announcing the funding round.
“With this additional investment from Goldman Sachs we will further accelerate our technical leadership while fortifying our global sales, support and marketing operations to capitalize on this significant market opportunity."
Christian Resch at Goldman Sachs Private Capital, will join the Nuxeo board.
Building the Next Generation of Applications
In June, following the $10 million funding round from Kennet Partners, Barroca told CMSWire that the company had experienced significant growth since its last funding round in 2013, especially in the U.S.
The two funding rounds this year follow a busy year for the company which included the introduction of new NoSQL database native cloud support with native connectors, UX integrations for Dropbox, Google Drive, Microsoft OneDrive and Box, advanced scaling capacity, as well as a plug in for the Google Cloud Vision service.
Since the last funding round, the company acquired Lisbon, Portugal-based 3-D content management provider InEvo to strengthen Nuxeo's DAM offering. According to Barroca, this purchase was driven by requests from customers interested in more robust DAM capabilities around industrial design and 3-D modeling. InEvo was a logical fit, as the company had a history of working with the Nuxeo platform.
As part of the deal, which closed in early July, the InEvo development team joined Nuxeo's research and development team.
Barroca identifies data as the real focus of content management today. He envisions Nuxeo as enabling the next generation of applications by managing the data that surrounds content, whether working with rich media or a centralized content repository.
The company claims over 1000 clients, including Verizon, the IRS and Capital One.
Title image Carl Heyerdahl