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Software firm SpringCM raises $18 million

Cloud software company SpringCM says it has raised $18 million to expand its sales force and meet increased demand from businesses for services that let workers share and collaborate on content.

SpringCM said it received funding from existing investors such as Foundation Capital and a new financial partners such as Square 1 Bank and Goff Capital.

“There is a tremendous opportunity to help companies do more than simply store and share content in the cloud,” said Greg Buchholz, SpringCM founder and chief executive. “As the only provider of Content Cloud Services built for the enterprise from day one, we have a unique opportunity to advance this green-field market to levels unattainable by simple file sharing services.”

SpringCM expects increasing demand from businesses moving documents onto the cloud as well as healthcare businesses and government agencies trying to meet new regulations.

Cloud-software maker SpringCM raises $18 million (Crain’s)

SpringCM gets $18M to further push its “beyond Box” message (Forbes)