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Lehi – NetDocuments has announced a strategic partnership with Frontier Capital, securing a $25 million equity investment to accelerate growth.
“It’s exciting to see the rate of adoption increase in recent years as law firms begin to move from traditional, server-based document management to what most now view as the modern document management platform,” said Ken Duncan, CEO of NetDocuments.
Frontier, based in Charlotte, N.C., is a growth equity firm focused exclusively on investing in software and technology-enabled business service companies in areas with significant entrepreneurial activity but minimal local capital.
“NetDocuments is exactly the type of company in which we aim to invest – a sturdy technology business growing at a strong rate into an emerging market, with a quality management team we know and trust,” said Michael Ramich, partner at Frontier.
NetDocuments is currently operating in more than 140 countries and is being used in nearly 10 percent of the Am Law 100 law firms.
“We’ve seen the document management industry go through dramatic changes over the last decade and a half, and we’ve been fortunate to be at the forefront with technology that is truly challenging the status quo,” noted Alvin Tedjamulia, CTO of NetDocuments.