Munich-based venture capital firm Target Partners has made a seven-figure investment in doo GmbH (www.doo.net).
doo’s main objective is to make the paperless office a reality by means of a cloud-based platform that organises documents intelligently. Equipped with apps for the relevant operating systems, doo is geared toward consumers and smaller businesses. The Bonn-based company will use the funding to support its market entry.
Frank Thelen, Marc Sieberger and Alex Koch, managing directors at doo, have set out to “revolutionise the way we use paper every day.” doo automatically identifies and sorts document types, analyses and structures content, and intelligently creates keywords as well. Users can search documents by keywords, date or document type. The desired document can be found within a matter of seconds. doo enables the documents to be stored in the cloud so that users can access the documents from any location with the help of native apps for Mac, Windows and Android. As a result, documents are available anytime in digital format, saved online and automatically organised at all times. In addition, doo provides a number of important features, including reminders, sharing and collaboration functions, which users need in order to organise and edit documents. The ultimate goal is the paperless office. The first version of doo is being launched with apps for Mac and Windows 8 Metro.
“We’re all organising our music, photos and movies on our computers and in the cloud already. doo will eliminate the hassle of all the paperwork and confusing file systems. We are pleased to be an investor and lend our support to doo and its founding team,” said Olaf Jacobi (pictured), a partner at Target Partners.
Co-founder and COO/CFO Sieburger says: “We are proud to have Target Partners on board as an investor and partner. We have taken on an enormous task with doo. Together, we will experience both challenging times and difficult decisions – and that’s why we need strong and professional partners on our team.”
