Venture Capital News: eFileCabinet Receives $11.5M Series C Round
LEHI, UT, Document management company, eFileCabinet, announced the closing of a $11.5 million Series C funding round.
eFileCabinet, announced today the closing of a Series C funding round which has secured $11.5 million to help more businesses increase operational efficiency and get back to the work that matters. Funding was led by existing investors Allegis Capital and Signal Peak Ventures, which are now joined by Camden Partners, Allegis Nippon Life and Oquirrh Ventures. Additionally, eFileCabinet welcomes Todd Sherman of Camden Partners to its board of directors.
"eFileCabinet is witnessing rapid growth and servicing customers who now, more than ever, need to improve operational efficiency and automate cumbersome processes," said Jesse Wood, CEO of eFileCabinet. "I'm also thrilled to have Todd Sherman join our board of directors. Todd's experience and skill set will augment an already dynamic Board and help eFileCabinet successfully navigate the next phase of our expansion."
eFileCabinet offers its unique SaaS product, Rubex, which combines essential business functions for organizations across a multitude of industries. From intelligent automation of documents to encrypted file-sharing, eFileCabinet empowers organizations to work efficiently and compliantly.
New capital will afford the company to expand its commercialization efforts deeper into industries benefiting from document management including insurance, healthcare, and human resources.
"We're excited to partner with Jesse and his team at eFileCabinet," Sherman said. "They have developed a best-in-class electronic document and cloud storage solution, coupled with streamlined workflow automation. As companies work remotely during the pandemic and beyond, the need to share documents in a secure, organized manner is sure to continue. We look forward to working closely with eFileCabinet to continue to develop and refine products that help solve real-world customer problems in an evolving world."
Since 2001, eFileCabinet has been perfecting its approach to intelligent organization to create one of the most advanced document management systems on the market. As a leader in document management, workflow automation, and secure file-sharing, eFileCabinet has been helping businesses increase profitability and growth by revolutionizing their outdated business processes.
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