Nextdocs raises funds for international expansion

NextDocs Corporation (KING OF PRUSSIA, PA, USA) announced that the Company has received $10.3 million in a Series A financing from OpenView Venture Partners. NextDocs will use the financing to accelerate their current rapid growth, including investments in broadening product lines, customer service and support, and expansion into new markets.

NextDocs is the global leader in providing Microsoft SharePoint-based compliance solutions to life sciences organizations. It enables businesses in regulated industries to achieve compliance with FDA and other agencies while automating processes, improving efficiency and reducing costs. NextDocs customers include Pharmaceutical companies, Bio-Techs, Medical Device companies and CROs.

“The market for life sciences compliance solutions is undergoing significant change, and life sciences companies are no longer satisfied with the incumbent solutions due to their complexity and cost,” says Firas Raouf, Venture Partner at OpenView Venture Partners. “Over the past few years, a new breed of compliance solution providers has emerged to satisfy the evolving needs of these companies. These new entrants have leveraged Microsoft SharePoint as the platform upon which to build the next generation of compliance solutions. After spending a good deal of time researching the space, it became clear that NextDocs was the leading provider in this emerging sector.”

NextDocs continues to grow rapidly, and in 2010, was ranked #52 in Inc.’s annual list of fastest growing companies in the United States. The company has over 100 customers across the life sciences industry, in a variety of sectors, including: pharmaceuticals, medical devices, biotechnology, contract research organizations and university research foundations.

“It has been a busy few months at NextDocs,” says Zikria Syed, CEO and founder of NextDocs. “We announced the creation of a Life Sciences Scalability Lab with Microsoft and a partnership with NNIT (Copenhagen, Denmark) to expand our offerings in Europe. In addition, Microsoft named us a winner of their Life Sciences Innovation Award, and their Life Sciences Partner of the Year. As we continue to build on this momentum, we will look to deploy this capital from OpenView Venture Partners to enhance our existing product offerings for customers and expand product lines to meet our clients’ changing needs.”

For more information on NextDocs Corporation and the software solutions visit www.nextdocs.com.

Source: NextDocs