SaaS Document, Email Management Vendor NetDocuments Raises $25M

Lehi, Utah-based software-as-a-service (SaaS) document and email management provider NetDocuments has received $25 million from Frontier Capital.

NetDocuments CEO Ken Duncan said the investment ensures his company can effectively support law firms and other companies that want to leverage cloud-based document and email management tools.

“With this investment, we’ll be able to provide higher levels of customer service along with additional resources that will enable us to gain greater market share as law firms and other service companies switch to the cloud,” Duncan said in a prepared statement.

NetDocuments’ service features:

Thousands of businesses worldwide currently use NetDocuments, and the company’s U.S. and UK data centers manage over 1 billion documents and emails.

Duncan noted Frontier made it clear it was ready to invest in the legal market, and NetDocuments will use the additional funds to better support customers in this sector.

“Our discussions with Frontier have made it increasingly clear that they understand the benefits our technology brings to the legal market, and as a result, [Frontier] will bring valuable strategic direction as well as financial resources,” he said.

A Frontier spokesperson told Talkin’ Cloud that NetDocuments’ cloud-based service and strong management team made it an ideal investment partner for her company.

“Frontier looks to invest in software and other technology-enabled services companies in areas with little local capital — companies that are doing well but would do even better if given this additional capital,” she said. “Over the long-term, we expect this investment will be remembered as the driving force behind law firms’ increasing investment in modern cloud-based technologies to reduce their costs and increase security, mobility and disaster recovery for all of their documents.”

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