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KnowledgeTree closes USD4.75m venture capital round

KnowledgeTree, a provider of cloud-based solutions, has closed a USD4.75m series B round of venture capital investment.

This round includes River Cities Capital Funds, Core Capital Partners, Hatteras Funds and lead series A investor Hasso Plattner Ventures Africa.

KnowledgeTree will use the new funds to capitalise on interest in the company’s social and enterprise-focused document management solutions.

KnowledgeTree’s cloud-based tools help companies such as Alcatel-Lucent, Inmarsat and Vanderbilt University create, discover and manage business documents anywhere.

In addition to the funding, KnowledgeTree will gain two additional members to its board of directors. Edward McCarthy, Raleigh-based managing director of River Cities Capital Funds, and Will Dunbar, managing director of Core Capital Partners, will join the board.

"Every single organisation struggles to create, organise and manage its business documents. That’s why this is a multi-billion dollar market," says McCarthy. "But what makes this opportunity special is KnowledgeTree’s enterprise-ready, cloud-based solution. The team has already proven that potent combination at hundreds of companies globally. Now I’m excited to see it further disrupt the historic players in this space."

"At many of the world’s largest organizations, KnowledgeTree has proven the value of a "structured social" approach to managing documents," says Daniel Chalef, chief executive officer of KnowledgeTree. "With the new funding, KnowledgeTree will rapidly scale our success in customer acquisition while evolving our product’s features to meet the market’s need for business-centric and social document management tools."

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