By: Craig Wentworth, Principle Analyst, MWD Advisors
Published: 21st August 2014
This work is licensed under a Creative Commons License
Alfresco (the on-premise/cloud/hybrid enterprise content management and collaboration vendor) has recently announced it’s raised $45m in Series D funding “to increase velocity of its Go-to-Market strategy globally”.
Why is this interesting? Well, back in July, in our On the radar report on the company, we said that it was “getting much more involved in its partners’ go-to-market strategies [...] rather than being content to be known for more generic support around an open source platform”.
When Doug Dennerline took over as CEO last year he mooted an IPO as the means by which to fund the growth he was expected to deliver. But that was then, and the market’s cooled a little now (Box’s IPO has been on ice since early rumblings). This latest round of funding (led by Sageview Capital, alongside existing investors) represents more than double the total Alfresco had raised thus far—and, as the press release reveals, it’s intended to bolster Alfresco’s sales and marketing presence… which should put the company much more front-and-central when it comes to engaging with its customers.
What that means for Alfresco’s distributors, systems integrators, OEMs, etc is unclear. They’ve been the main channels to market—particularly for specialised vertical market use cases. How much will Alfresco seek to acquire its own vertical expertise and credibility? That depends on the new hires (no details yet as to whether new capital means new marketing strategy), but the extra cash will help the company step into the light a little more.
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Published by: electronicdawn Ltd.