Sageview, Accel in $45m funding round for content management provider


dollars_170sqVenture capital firms Sageview Capital, Accel Partners and Mayfield Fund took part in a $45m funding round for content management provider Alfresco Software.

The latest round brings Alfresco’s total funding to $65.4m.

The company provides a programme which aims to be an enterprise-grade, highly-compliant system to help its clients manage business-critical content.

Alfresco said it will use the cash to increase its ‘go-to-market’ strategy which includes adding sales people, investing in marketing and expanding development.

Sageview Capital founding partner Ned Gilhuly said, “Alfresco has clearly established itself as the de facto ECM [enterprise content management] platform for customers who desire smart and modern software that unlocks the power of business-critical content, process and collaboration.

“We are focused on providing growth capital for companies that bring an innovative approach to large market opportunities. As demonstrated by its superior growth, product strength, partner ecosystem and leadership team, Alfresco is a great fit for our portfolio.”

Sageview co-led a $30m funding round for  cloud-based sales tax and compliance technology provider Avalara in February this year.

Copyright © 2014 AltAssets