Nitro, a leading document productivity company, today announced that it has closed a $15 million funding round from Battery Ventures to accelerate its vision of bringing smarter documents to everyone.
Australian-founded Nitro started in 2005 and has profitable ever since, growing rapidly recently to over 150 employees in five locations, including its San Francisco headquarters. It has more than 490,000 customers in nearly 200 countries, including leading UK companies Mills and Reeves and the Wood group, and over 50% of the Fortune 500.
This latest round brings Nitro’s total funding to $21.6 million and will be used to accelerate growth, drive the innovation and adoption of its new Nitro Cloud offering, and continue its international expansion with a particular emphasis on growth in the UK. It also announced that Michael Brown, general partner at Battery, will be joining Nitro’s Board of Directors.
Nitro’s products, including Nitro Pro and Nitro Cloud, make it easy for businesses to share documents, and work with shared documents. Nitro Pro is the leading alternative to Adobe Acrobat; alternatively, Nitro Cloud enables document sharing, signing, and collaboration on any device, helps companies to eliminate paper-based processes like printing, faxing, and scanning, and helps employees and customers share, sign, approve, track, and collaborate on documents faster and more securely.
Sam Chandler, Nitro’s Founder and CEO, said: “This investment allows us to bring our ‘Smart Documents’ vision to life for organisations of all sizes. We want to help our customers close contracts faster, save money, collaborate more efficiently, modernise their document processes, and do it all more elegantly and securely than the old ways of paper and email. We’re delighted to have a partner of Battery’s caliber coming aboard.”
Michael Brown, General Partner at Battery, said: “Every business deals with documents and knows the pain points in effectively sharing them and using them to collaborate with others. Both offline and online, Nitro is helping to solve these universal problems. It’s exciting to think that we’ve only just scratched the surface of this significant market opportunity and Battery is delighted to partner with the Nitro team to deliver on the company’s vision of bringing smarter documents to everyone.”
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