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:2/12/2016)... --  National Community Pharmacists Association (NCPA) CEO ... statement today in response to the detailed "preferred pharmacy" ... Medicare & Medicaid Services (CMS) and conducted in response ... patient advocacy organizations and members of ... CMS analysis. Our initial reaction is that more work ...
(Date:2/12/2016)... 2016 /PRNewswire/ - Demers Ambulances announces its first delivery in the ... Okaloosa County Emergency Medical Services (EMS) consisting of ... LT2 van. Quality Emergency Vehicles in Lecanto, FL ... sale.  This is the latest in Demers, ongoing expansion of ... at Demers. --> Benoit LaFortune , Executive Vice ...
(Date:2/12/2016)... -- Memorial Hermann Health System has teamed up with Houston ... a one-of-a-kind experience to pediatric patients at Children,s ... 360-degree video and Google Cardboard, Howard was able to ... the patients and their families an unexpected, and energetically ... video . Memorial Hermann IRONMAN Sports ...
Breaking Medicine Technology:
(Date:2/12/2016)... Opelousas, LA (PRWEB) , ... February 12, 2016 , ... ... of St. Landry and Evangeline Parishes. The purpose of these scholarships is to ... to encourage those individuals to seek employment within these two parishes. , “We ...
(Date:2/12/2016)... ... ... Enforcement Trends: , Back to the Future , Feb. 25, 2016 — 11:00 a.m. – ... who don’t learn from history are doomed to repeat it.” , An analysis of CDRH’s ... But that takes time. , Take a close look at the warning letters the ...
(Date:2/12/2016)... (PRWEB) , ... February 12, 2016 , ... As a ... hectic schedule, a demanding job, and no time to decompress, Rabinowitz found herself drawn ... herself to meditation for its impact on her life, implementing a 20-minute-per-day meditation practice ...
(Date:2/12/2016)... ... February 12, 2016 , ... ... Series at Zuckerberg San Francisco General Hospital on April 5-7. The series is ... and create new habits. The workshops cover a broad range of topics, including ...
(Date:2/12/2016)... Vegas, NV (PRWEB) , ... February 12, 2016 , ... ... North Las Vegas Mayor John J. Lee, Nevada Military Support Alliance president Scott Bensing, ... Fisher House at the VA Southern Nevada Healthcare System. This will be the ...
Breaking Medicine News(10 mins):