Document management company SpringCM raises $10M

April 10, 2008 | Anthony Ha

DocExchange, a document management startup that does business under the name SpringCM, has raised $10 million in a second round of funding. It’s also opened a $4 million credit facility with Comerica Bank.

North Bridge Venture Partners led the round, and previous investor Foundation Capital also participated.

The San Mateo, Calif.-based startup has plenty of competitors, including EMC Corp., Oracle Corp. and Alfresco Corp., but chief executive Dan Carmel told VentureWire that SpringCM offers the product with the most complete features.

The company previously raised $10 million in 2006.

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About the Author, Anthony Ha

Anthony is a senior editor at VentureBeat, as well as its reporter on media, advertising, and social networks. Before joining the site in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. (All story pitches should also be sent to tips@venturebeat.com) You can also follow Anthony on Twitter.