SharePoint rival looking to expand US presence
UK-based enterprise collaboration firm Huddle has secured $24m in funding to push into new markets such as the United States.
The financing was led by Jafco Ventures and also included DAG Ventures, Matrix Partners and Eden Ventures. Subrah Iyar, the founder of WebEx, also participated. This round of funding brings Huddle’s total VC investment to $40m.
The company already has a base in San Francisco but want to expand its presence further in the US. Some of the new capital will go towards its recently-launched office in New York, to help it tackle the east coast market.
Huddle launched in 2007 and has tripled in size each year since then, the company says. It has over 100,000 customers around the world. Its UK base is near the famous Old Street region of east London, which has been nicknamed Silicon Roundabout because of all the tech start-ups that are flocking to the scene. It is also the focus of the government’s Tech City initiative.
Huddle’s cloud-based content management and collaboration and sharing platform is a cross between SharePoint, Google Drive, Dropbox as well as products like salesforce.com’s Chatter. It enables users to shared documents across the enterprise and also outside the firewall.
It can also sync documents across mobile devices, meaning workers on the move can keep up with internal projects.
"In today’s knowledge economy, the most successful companies are those that make the best use of information. Yet traditional ECM systems are failing to support the new ways in which people are now sharing information and working together. These systems were designed for content storage, not collaboration; for servers – not for the cloud," said Alastair Mitchell, co-founder and CEO, Huddle.
"Huddle is revolutionising the ECM market by making it collaborative, social, ubiquitously accessible and – above all – intelligent. Our intelligent collaboration platform opens up content silos across the global enterprise ecosystem, enabling people to share, discover and work on content wherever, whenever and with whomever they need to," he added.
"We’re growing incredibly fast and we’re excited that we have been able to bring on board a roster of world-class investors to help us on our journey transforming this $25bn industry," Mitchell concluded.