SpringCM Gets $18 Million from Investors

Proquest LLC

SpringCM, a provider of Content Cloud Services, announced that it has received $18 million in funding from existing investors including Foundation Capital as well as new financial partners including Square 1 Bank and Fort Worth-based Goff Capital.

According to a release, SpringCM will use the funding to scale its direct sales and channel efforts to address the growing demand from enterprises for cloud services that transform the way people find, share, collaborate and work with content.

"There is a tremendous opportunity to help companies do more than simply store and share content in the cloud," said Greg Buchholz, Founder and CEO at SpringCM. "As the only provider of Content Cloud Services built for the enterprise from day one, we have a unique opportunity to advance this green-field market to levels unattainable by simple file sharing services. We have the product, the team and the expertise to win. We appreciate the support of our investors in helping us scale to realize our vision, and we especially appreciate the support of our nearly 400 customers who are using SpringCM to drive big business outcomes."

Customers and Industry Analysts Recognize SpringCM's Strategic Value, the company noted. "SpringCM has been an invaluable partner to accelerate Life & Specialty Ventures' (LSV) growth in the dental insurance market," said Lee Ann Mitchell, Director, Dental Network Management, Provider Relations Blue Cross Blue Shield of Massachusetts. "As a joint venture with four different Blues plans, LSV has to move quickly to meet the goals of the plans in a rapidly changing healthcare landscape. SpringCM has been key in enabling LSV to efficiently rollout dental insurance plans and adapt to state-by- state regulatory requirements."

"As the need to shift content to the cloud has intensified, enterprises have become smarter about the choice they have between popular cloud storage services and enterprise-class services, like SpringCM," said Jim Lundy, CEO and Founder of Aragon Research. "Enterprises are choosing SpringCM because it delivers integrated workflow, enterprise-class security and administration, and robust mobile capabilities that employees need to get their jobs done better, faster and easier."

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