Bangalore: Document management software developer, Utah based eFileCabinet grabs $14million in a series B round of funding led by Palo Alto-based Allegis Capital and Salt Lake’s Signal Peak Ventures. The fund will be utilized into sales and marketing efforts, strategic partnership and OEM opportunities.
Founded in 2001 by Matt Peterson, eFileCabinet robotizes the procedure of arranging and managing files.. It acts as a central repository for all working and archived files, letting users securely manage, retain, route and share files allowing users to ensure compliance with HIPAA, SEC/FINRA and FERPA. Today, the company is obtainable on cloud and on premise platforms and integrates with office software including Salesforce, Microsoft Office and QuickBooks.
On the other hand, The Company claims to serves over 153,000 users including SMBs and enterprises in the accounting, financial services, insurance, medical, HR, small government verticals and many others.
Speaking about the Paperless management, Spencer Tall, Managing Director, Allegis Capital says, “Companies across the board are adopting paperless solutions. eFileCabinet provides a one-stop solution that lets businesses easily go paperless in a secure, compliant and affordable fashion. The fact that eFileCabinet’s growth history is so impressive, along with a platform that is scalable from SMB to enterprise, made this a very attractive investment.”
Ron Heinz, Managing Director, Signal Peak Ventures says, “Companies going paperless want to do more than simply place files in the cloud. eFileCabinet lets businesses choose from a suite of affordable, integrated services and software to put together a complete document management workflow. Users have no reason to look elsewhere and that’s what makes eFileCabinet such a strong investment.”