June 24, 2010 01:30 ET
Open Source Enterprise Content Management Company Nuxeo Adds $3.3 Million to Series A Funding
New Capital to Accelerate Rapidly Growing Nuxeo Galaxy Partner Program
BOSTON, MA and PARIS--(Marketwire - June 24, 2010) - Nuxeo, the Open Source Enterprise Content Management (ECM) company, today announced an influx of venture capital of $3.3 million (2.7 million Euro) from lead investor OTC Asset Management. Nuxeo first raised $2.6 million in Series A funding in December 2008 from OTC Asset Management, led each time by board member Patrick de Roquemaurel. With this tranche, Nuxeo announces a total Series A venture capital investment of $5.9 million to date.
Nuxeo will leverage the new capital to accelerate its rapidly growing Nuxeo Galaxy partner program, which was recently recognized by TheVARGuy.com as one of the top 25 most successful open source channel programs. Winning the award for its size, influence and annual revenue growth rate, Nuxeo's global partner program is comprised of systems integrators, consultants and application solution providers who build content-centric applications on the open source Nuxeo Enterprise Platform (Nuxeo EP).
The capital will support a range of partner activities, such as funding co-development of third-party packaged applications, sharing Nuxeo engineering and services resources, as well as joint marketing and product launch activities. Nuxeo also plans to continue its expansion in North America with the hire of dedicated staff responsible for managing and expanding the Nuxeo Galaxy partner ecosystem.
"Generic, pricey, complex ECM systems don't cut it anymore," said CEO Eric Barroca. "Businesses are demanding flexible platforms and domain experts to build meaningful content-centric applications. This investment will help us ensure that our existing and new Galaxy application partners are fully prepared to capitalize on this trend as quickly as possible. Using the open source Nuxeo Enterprise Platform, our partners are innovating and re-shaping the market by bringing specific ECM applications designed to address the diverse content challenges to companies of any size and multiple industries."
"Nuxeo has exceeded our goals with its launch and success in the North American market," said de Roquemaurel, Partner at OTC Asset Management. "We support Nuxeo's strategy to continue working closely with partners to uncover new opportunities across a range of verticals, as well as to provide a replacement option to larger, proprietary Enterprise Content Management systems reaching end of life. Right now customers are extremely receptive to the flexibility, cost effectiveness, and opportunity to innovate that open source ECM offers."
For Application Builders and ISVs, the Nuxeo Galaxy program offers services and tools to speed development and delivery of industry-specific content applications for their target market. It focuses on joint go-to-market efforts, content application design and technical support and helps with all phases of the sales cycle. It also provides access to Nuxeo Studio, a customization and configuration environment that expedites the build phase for content applications.
For example, San Diego-based Carnegie Technology Associates (CTA) offers an ECM application for the Life Sciences industry based on Nuxeo EP. The two companies are working together to level the playing field in this highly regulated and intellectual property heavy sector, allowing start-up and small, cutting-edge research companies to compete and succeed with established bio-tech, pharmaceutical and medical research organizations.
For more information on becoming a Nuxeo Galaxy partner, go to http://www.nuxeo.com/en/partners.
Nuxeo provides a modular, extensible open source ECM platform for managing information. A pioneer in the open source ECM market, Nuxeo is used by hundreds of customers worldwide, including The Press Association, Agence France-Presse (AFP), EllisDon and Cengage. Companies of all sizes across all industries, including media, government, transportation, education and energy sectors, use the Nuxeo Enterprise Content Management offerings to meet their specific vertical and horizontal content application needs. Support, training and professional consulting services are available to customers and partners worldwide. Headquartered in Paris, the company has global offices in North America (Boston), Western Europe (Paris, Madrid and Rome), Eastern Europe (Moscow) and the Middle East (Dubai). More information is available at www.nuxeo.com.
About OTC Asset Management
OTC Asset Management is an independent management company which allocates its expertise in investment in unlisted companies. Investments are designed to provide the necessary capital to develop these companies, as well as support management in strategic decisions, and creating value for shareholders, officers and employees. OTC Asset Management makes investments on behalf of private and institutional clients through our funds: innovation funds (Fonds Commun de Placement Innovation), FIP (local investment funds) and venture capital funds (Fonds Commun de Placement Risks), which offer various tax benefits. More information is available at http://www.otcam.com/