Document collaboration software provider SkyDox has closed a £20m funding round with venture capital firm Scottish Equity Partners (SEP) and government-backed initiative
British Growth Fund (BGF)
The deal, which includes investment from management and other employee shareholders, enables the UK company to join forces with document comparison and policy management firm Workshare.
Established in 2009, cloud-based company SkyDox allows customers including NHS, PwC and the European Court of Human Rights to share their files securely and efficiently.
By combining with Workshare, a document collaboration software provider with a customer base spanning 70 countries, largely in the legal sector, the team plans to launch the first policy-based document collaboration platform.
Trading under the Workshare brand, the company will look to maintain focus on the legal sector, while expanding its customer base to allow a broader range of business users to work across mobile, tablet and desktop devices via the cloud.
Former CEO of SkyDox, Anthony Foy, who now holds the parallel position at Workshare, said, “By joining forces with Workshare, we are uniquely positioned to help knowledge-based employees improve productivity, without sacrificing enterprise information security requirements.
“The investment will enable us to deliver on our plans for developing the most comprehensive, effective and secure collaboration platform on the market that integrates into existing productivity, document management and enterprise content management applications.”