SpringCM is a secure cloud platform that optimizes the generation, workflow, and archiving of business documents and manages contracts across desktop, mobile and partner applications like Salesforce. Its suite of workflow automation tools includes document management, sales contract lifecycle management (CLM), and sales content management to eliminate manual and repetitive tasks and provide a holistic view of customer relationships. The company is a Platinum Partner and one of the top 15 partner apps for Salesforce. Led by newly appointed CEO Dan Dal Degan, SpringCM plans to use new funding to develop additional document and contract management applications and to add engineering, sales and other positions. In 2016 the company added more than 175 new customers, including Uber, Spotify, Valvoline, Qlik and IKEA, demonstrating recent commercial traction. SpringCM provides a cloud platform that manages sales contracts and a wide range of documents, integrated with Salesforce and partner applications. Its CLM product automates workflows and complex processes to shorten contract cycles and accelerate time-to-revenue. The company says it is on track to deliver six new product releases this year and notes a FedRAMP "in process" status to expand in the public sector. More than 600 companies, including Anaplan, athenahealth, BCBS and the USDA, use SpringCM. SpringCM is a Salesforce Platinum partner and positions its offerings to serve sales, legal and public-sector needs. The company says the new funding will enable continued innovation and an accelerated product roadmap. SpringCM is a Chicago, IL-based provider of content cloud services for the enterprise. Led by CEO Greg Buchholz, the company delivers Content Cloud Services with rich security, mobile, sync and business process capabilities. Its platform is used to manage content for Sales Contract Management and other business processes integrated with transaction systems. SpringCM serves global brands and public sector agencies including Facebook, NCR, Office Depot, PDI Nice-Pak and the U.S. Department of Energy. The company intends to use new funding to ramp its sales and marketing efforts. SpringCM has offered hosted content management since 2005 and builds products that integrate content-management functionality inside Salesforce.com. The company reports about 400 paying customers and says roughly half of its business and 75 percent of new pipeline come from Salesforce partnerships. SpringCM opened a small Silicon Valley office staffed with five employees and plans to grow that to 20 by year-end. Management intends to use the new funding primarily to expand sales and marketing and increase the company’s presence in Silicon Valley. The company has been growing its Salesforce channel and recently announced two products that embed content management where salespeople work. SpringCM is a Chicago-based cloud enterprise content management company that provides cloud solutions for contract management, invoice automation and case management. The company delivers content and workflow tools for business processes from the cloud. It secured $15M in financing described as a mix of debt and equity to support growth. Existing investors Foundation Capital and North Bridge Venture Partners participated in the round, and Silicon Valley Bank provided growth capital and working capital financing. CEO Chris Junker said the funds will be used to further develop and extend the company’s channel sales, partner relationships and research and development activities.

Total raised

$96M

Funding rounds

7

Latest round

Equity

Latest activity

Feb 2017