Wednesday, April 9, 2008

SpringCM Raises $14M

San Mateo-based document management software firm SpringCM said Wednesday that the firm has raised $14M, in a combination of equity and debt. The firm said that it has raised $10M in a Series B funding round led by North Bridge Venture Partners, with Foundation Capital also participating, in combination with a $4M credit facility from Comerica Bank. SpringCM said the funding will go towards market share expansion, in particular, towards activities in sales, marketing, partner outreach and business development. SpringCM's enterprise document management tools are used by companies to manage business processes and document workflow. More information »