Daniel Chalef, chief executive officer of startup KnowledgeTree, took to his corporate blog to break the news over the weekend about his company’s new round of venture capital funding.
“There’s great news today for KnowledgeTree, and our customers,” he wrote Saturday.
“We have closed a $4.75 million Series B round of investment with several successful East Coast venture capital firms. Our new partners include River Cities Capital Funds, Core Capital Partners, and Hatteras Funds. Our lead Series A investor Hasso Plattner Ventures Africa also participated in the round.
“When we launched our software-as-a-service document management application 24 months ago, we did so with the idea that companies would be most successful at managing their documents when three conditions are met:
- “When users can be social, allowing global teams to create documents collaboratively and find content that their colleagues value.
- “When users also have access to structured tools, ensuring that contracts, budgets, and other documents are reviewed, approved, and managed by the right people.
“And when these tools are so simple that business users can configure and implement them themselves, and adapt them as their businesses change.
“Thanks to a great team and our great customers, we’ve been able to grow fast. We’ve helped hundreds of companies create, discover, and manage their business documents.”
KnowledgeTree works with clients through a cloud computing-based service.
River Cities has an office in the Triangle.
Hatteras Funds is based in Raleigh.
Edward McCarthy, who runs the Raleigh office for River Cities, and Will Dunbar, managing director of Core Capital Partners, join the KnowledgeTree board as part of the deal.
“Every single organization struggles to create, organize and manage its business documents. That’s why this is a multi-billion dollar market,” said McCarthy in a statement. “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.”
Customers include Miramax, Vanderbilt University, Alcatel Lucent, Papa John’s and Fuiji Film.