NEW YORK, NY, Nuxeo announced today that it has closed a financing round with $10 million committed by Kennet Partners.
Nuxeo, developer of a leading Enterprise Content Management (ECM) platform which enables organizations to manage complex digital content at massive scale, announced today that it has closed a financing round with $10 million committed by Kennet Partners. The capital will be used to expand sales capacity in North America and support international growth in Europe and Asia.
Since its last funding in 2013, Nuxeo has experienced substantial growth, particularly in the US which now represents half of the company's revenues, and has established itself as a key challenger in the ECM market.
Over the last year, the company has announced several innovations which address the evolving ECM market. These include NoSQL technology with Elasticsearch-based native indexing and a native persistence engine for MongoDB, native cloud support (including native connectors and UX integrations for Dropbox, Google Drive, Microsoft OneDrive and Box) and advanced scaling capacity. As a result, Nuxeo is better able to support core, business critical applications for its customers as they transition to a digital-first workplace.
'The ECM market is facing a significant transformation due to three major disruptions: complexity of data, volume of digital content, and diversity of delivery channels. As such, legacy systems are not equipped to face the rapidly evolving enterprise requirements for managing content. This investment will help us respond to the increasing demands for a flexible, extensible and powerful platform by accelerating the hiring of world-class developers and growing our international presence in areas such as Northern Europe and Asia,' said Eric Barroca, CEO at Nuxeo.
The new investment from Kennet Partners will fuel growth and be used to continue the development of Nuxeo's innovative platform for the management of complex digital assets and to reinforce sales & marketing worldwide.
'Nuxeo is transforming the way enterprises are building content management applications by creating the high performing and scalable systems needed to manage increasingly rich content. We're very impressed with the market traction Nuxeo is generating and we're excited to be working with Nuxeo as they continue their global expansion,' said Michael Elias, Managing Director at Kennet Partners.
Nuxeo provides an extensible and modular Enterprise Content Management Platform enabling architects and developers to easily build and run business applications. The Nuxeo Platform offers modern technologies, a powerful plug-in model and extensive packaging capabilities for Document Management, Digital Asset Management and Case Management applications. Over 1,000 organizations rely on Nuxeo to run business-critical applications, including the IRS, Electronic Arts, Verizon, Sharp, Capital One, and the U.S. Navy. Nuxeo is headquartered in New York and Paris. More information is available at www.nuxeo.com.
About Kennet Partners
Kennet is a leading international growth equity firm that invests in high-growth companies in Europe and North America. Kennet supports entrepreneurial technology businesses with expansion capital to accelerate growth and build exceptional shareholder value. Founded in 1997, Kennet has approximately $700 million in funds under management. For more information: www.kennet.com. Kennet Partners Limited is authorized and regulated in the UK by the Financial Conduct Authority.
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