Navigation Links
NextDocs Receives $13.5 Million in Funding to Fuel Expansion
Date:9/10/2013

CONSHOHOCKEN, Pa., Sept. 10, 2013 /PRNewswire/ -- NextDocs, a leading provider of regulated content management and compliance solutions, announced today that the company has received a $13.5 million round of investments and funding commitments.  The funding round was led by OpenView Venture Partners with participation by Eastward Capital and Bridgebank Capital.

"Since its inception, NextDocs has primarily funded its operations and growth through revenue generation.  Of course, this has only been possible because of the extremely strong reception our solutions have received in the market," said Zikria Syed, Chief Executive Officer of NextDocs. "These additional equity investments and funding commitments will allow us to escalate the investment in our solutions, services and global organization – positioning the company to capture even greater market share."

A major technology platform shift in the life sciences industry is accelerating the demand for the regulated content management solutions which NextDocs sells. Nearly 37 percent of life sciences companies have reported replacing or beginning to replace their legacy document management technologies in favor of regulated content management software – and research shows that trend accelerating.

With more than 100 life sciences companies already relying on NextDocs solutions, including 5 of the top 10 pharmaceutical companies and two of the largest Clinical Research Organizations (CROs), the NextDocs platform is well on track to become the new industry standard. 

"OpenView decided to lead this second round of investment in NextDocs because we are bullish on the company," said Firas Raouf, Venture Partner at OpenView Venture Partners.  "NextDocs continues to take significant market share from the large incumbents in the market, while also expanding into adjacent and more greenfield markets.  We see NextDocs growing aggressively and becoming a much larger company over the next few years."

NextDocs is already an Inc. 500 and Deloitte Fast 50 company.  OpenView Venture Partners is the company's largest investor and also its first institutional investor, having provided a $10 million Series A round of investment in 2011.   

Last month, NextDocs announced the appointment of William Levering as Chief Financial Officer and the appointment of Robert Steinkrauss and George Riedel as members of its board of directors. Levering brings more than 30 years of financial management experience to NextDocs, including more than a dozen years' experience as a CFO at both public and private technology companies. 

About NextDocs Corporation

NextDocs is the global leader in providing compliance software solutions including quality management software, regulatory document management, and clinical portals. NextDocs solutions enable businesses in regulated industries to achieve compliance with FDA and other regulations while automating processes, improving efficiency, and dramatically reducing costs. NextDocs' customers include pharmaceutical companies, biotechs, medical device companies, and CROs. For more information on NextDocs Corporation and its software solutions, visit www.nextdocs.com.

About OpenView Venture Partners

OpenView Venture Partners (www.openviewpartners.com) is an expansion-stage venture capital fund based in Boston that is focused on high-growth software, Internet, and technology-enabled companies. Through its staff of seasoned operating executives, who collectively bring several decades of technology and management experience to the firm, OpenView is able to help portfolio companies quickly optimize their product, go-to-market, and organizational and operational functions. Founded in 2006, the firm invests globally and has approximately $445 million in total capital under management.

Contact:
Dan Cahill
1-917-617-0106
dcahill@roaringpr.com


'/>"/>
SOURCE NextDocs Corporation
Copyright©2012 PR Newswire.
All rights reserved

Related medicine technology :

1. NextDocs and Novella to Present on eTMF at DIA 2013
2. NextDocs Expands Customer Roster by More Than 10 Percent
3. NextDocs Launches QuickStart for Emerging Growth Companies
4. NextDocs 6: The New Enterprise Standard for Regulated Content Management
5. NextDocs Corporation Announces Trial Exchange, a Clinical Portal Designed Specifically for Clinical Trial Sites and Integrated with eTMF
6. TWi Biotechnology Receives Patent Allowance for Its Lead Drug Candidate AC-201 in the United States
7. Unique New PIR Knee System Receives CE Mark
8. EECP Therapy Receives Class lla Recommendation in European Society of Cardiology Guidelines for the Management of Stable Coronary Artery Disease
9. Mylan Acquisition of Agila Receives Approval from Indias Foreign Investment Promotion Board and Cabinet Committee on Economic Affairs
10. Halozyme Announces Roche Receives Marketing Authorization for Herceptin SC in European Union
11. HeartWare Receives FDA Approval To Enroll Supplemental Patient Cohort In Destination Therapy Trial
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:7/19/2017)... RALEIGH, N.C. , July 19, 2017  Mako ... Veteran Affairs, and the Military Family Assistance Fund (MFA) ... Louisiana to visit with their families one ... the funding to coordinate the travel and logistics needed ... supporting our deployed soldiers and their families. We just ...
(Date:7/14/2017)... 13, 2017 It should come as no surprise ... is in the midst of a crippling opioid epidemic. According ... the number of overdose deaths from opiate-based medications has quadrupled, ... a million dead from 2001 to 2015". During this time, ... has similarly quadrupled, drawing a compelling link between prescription and ...
(Date:7/12/2017)... CarpalAID is a revolutionary new product that relieves painful carpal tunnel ... syndrome affects more than 8 million people a year. Women suffer ... common methods of treating CTS are painful surgery, the use of ... ... is a clear patch worn on the palm of the hand. ...
Breaking Medicine Technology:
(Date:7/21/2017)... (PRWEB) , ... July 21, 2017 , ... ... Philadelphia and Theater of Witness , was awarded a $300,000 grant ... humanities program which fosters empathy, comfort with ambiguity and the recognition of one’s ...
(Date:7/21/2017)... ... July 21, 2017 , ... The Margarian Law Firm has filed a ... ginger ale for allegedly containing no ginger. Dr. Pepper produces the “Canada Dry” brand ... Gegham Margaryan alleges Canada Dry Ginger Ale claims on its bottle that it is ...
(Date:7/21/2017)... ... July 21, 2017 , ... MedMatchPlus+ has launched ... of acceptance to a residency in a United States hospital. Being accepted into ... U.S. , According to data released by the ECFMG®, every year, 50 percent ...
(Date:7/21/2017)... (PRWEB) , ... July 21, 2017 , ... West Dermatology ... Tuantu Doan Vu, PA-C. Beginning July 17, 2017, Ms. Vu will join West Dermatology’s ... years of experience in dermatology, skin cancer , and more. She graduated from ...
(Date:7/21/2017)... ... 21, 2017 , ... How physicians and athletic trainers assess ... researchers presenting their work at the American Orthopaedic Society for Sports Medicine’s ... the patterns of change in concussion symptom presentation, diagnostic tools used and length ...
Breaking Medicine News(10 mins):