Nuxeo, the open source content management provider known also for its digital asset management platform, announced today that it closed a $10 million funding round led by Kennet Partners.
In a statement, New York City-based Nuxeo said it will use the money to extend its sales capacity in North America, which already accounts for half its business, and to further develop sales and marketing capacities in Europe and Asia.
Nuxeo CEO Eric Barroca told CMSWire the company has experienced significant growth since its last funding round in 2013, especially in the US. “This investment will allow us to increase our brand recognition and to improve our market share in the US. This investment will also be used to start sales activities and market presence in Northern Europe and Asia,” he said.
Building on Momentum
Nuxeo released the first stable version of its open source enterprise content management platform — Nuxeo EP 5.0 — in 2007. It followed this with the 2010 release of its first CMIS-enabled Digital Asset Management application.
The ECM platform allows architects and developers to build, deploy and run content-centric business applications in the cloud or on premises, and offers an integrated solution for document management, case management, DAM and more.
Today's funding doubles the nearly $10 million the company raised between Sep. 2007 and Sep. 2013.
The announcement follows 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.
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Barroca said this will prepare Nuxeo to better support core, business critical applications for its customers as they transition to a digital-first workplace.
Three digital disruptors are creating significant problems in the enterprise according to Barroca, notably data complexity, the exploding volume of digital content, and the growing number of content delivery channels enterprises are using.
“We've demonstrated significant lead on technology, with cloud-scale performance, native NoSQL persistence engine, advanced analytics and other technologies. We're working on advancing this even further with more NoSQL back ends, connectors for more big data analytics and machine learning engines, and more advanced mobile and cloud connectivity,” Barroca added.
Specific plans for the coming months and the new money include developing a new user interface (based on REST API, HTML5 and WebComponents), next generation mobile apps and frameworks for iOS and Android.
The money will also go towards increasing sales capacity, with plans to double sales and customer service volume every six months in the US, as well as develop a business presence in the UK, Germany and Japan.
