Document management company SpringCM raises $10M

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.