Nuxeo, the provider of a content management platform for business applications, today announced receiving $3.8 million in funding. The funding comes from OTC Asset Management and OTC Extend, to support expansion in the U.S. market.
CEO of Nuxeo Eric Barroca states: “Our product appeals to architects, developers, and project managers in technology-enabled companies. Nuxeo clients such as Electronic Arts, Sharp, FICO, Netflix, and Jeppesen/Boeing are using the Nuxeo Platform to build applications to solve problems in their particular business context. Our business model is based on annual subscriptions, so we are deeply invested in the success of our customers’ projects. We’ve reached a stage in our growth where we need to expand so we can maintain our high standards for support and project guidance.”
“Nuxeo has exceeded our goals with its success in the North American market,” said Patrick de Roquemaurel, Partner at OTC Asset Management. “The company is well positioned for expansion in this innovative market space. We support Nuxeo’s strategy to further develop the company infrastructure so they can continue to support and enable successful customer projects.”
The new funding will be used to support rapid growth in the U.S. market. Nuxeo launched a presence in the U.S. market in 2009, and has exceeded revenue expectations in the region in the past 3 years, with over 100% growth annually since 2011.
Nuxeo provides an extensible and modular Open Source Content Management Platform enabling developers to easily build and run business applications. Designed by developers for developers, the Nuxeo Platform offers modern technologies, a powerful plug-in model and extensive packaging capabilities. It comes with ready-to-use Document Management, Digital Asset Management and Case Management packages.
By Lolita A. Alford