Feeds

One for the road: Alfresco gulps $45m pre-IPO VC shot

Big business sales push before the big business sell push

Security for virtualized datacentres

Alfresco software is beefing up the sales push with one last shot of venture-capital courage before going public.

The British open-source business will open new offices and hire sales people to open more doors in the enterprise and big government, the company’s chief technology officer and chairman John Newton has said. New offices will be opened across the US and Western Europe.

Money will also go on marketing, mostly in the US, it seems, where it's felt the company’s still regarded as something of a secret and where it would eventually IPO.

Alfresco late last week announced it had landed $45m in capital.

The money will also go on product development, to help customers manage the security and privacy risks associated with staff shoving content into the cloud.

However, it’s vital to Alfresco’s success that it nails the enterprise sales cycle – a notoriously long courtship process with multiple circles of sign off.

According to Newton, Alfresco is now ensconced in very large corporations and getting six- and seven-figure sales deals – which, by their size, take a while to land.

Being based on an open-source and downloadable code base had seen the enterprise content management specialist’s growth primed by downloads.

“We have a very successful model and we are growing, we just feel we can grow faster and we want to do that before we go IPO,” Newton told The Reg.

Alfresco took its last round of cash in a 2008 $9m C series led by SAP. “This is the last round we do before the IPO,” Newton said of the $45m.

He wouldn’t say when Alfresco would list, but based on the chief executive’s earlier remarks we are looking at post 2016.

Alfresco doesn’t reveal numbers, but claims 30 per cent annual growth, with strength in government, high-tech, and healthcare.

Money is also going on development further technology at Alfresco not just to securely manage content manage in cloud services like DropBox, Salesforce, Workday and Google Docs but to also co-ordinate the management between these off-prem document stores and existing on-prem content sources.

“We will invest in smart process applications that combine process control and integration with content and are able to apply it to other applications for capture, storage and management,” Newton said.

He pointed to the Activiti process engine, both an open-source project led by Alfresco and a product sold by the company, as proof the company is investing in processes to connect such disparate systems and manage content across them. ®

Providing a secure and efficient Helpdesk

More from The Register

next story
Facebook pays INFINITELY MORE UK corp tax than in 2012
Thanks for the £3k, Zuck. Doh! you're IN CREDIT. Guess not
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Yes, yes, Steve Jobs. Look what I'VE done for you lately – Tim Cook
New iPhone biz baron points to Apple's (his) greatest successes
Happiness economics is bollocks. Oh, UK.gov just adopted it? Er ...
Opportunity doesn't knock; it costs us instead
Ex-US Navy fighter pilot MIT prof: Drones beat humans - I should know
'Missy' Cummings on UAVs, smartcars and dying from boredom
Sysadmin with EBOLA? Gartner's issued advice to debug your biz
Start hoarding cleaning supplies, analyst firm says, and assume your team will scatter
Edward who? GCHQ boss dodges Snowden topic during last speech
UK spies would rather 'walk' than do 'mass surveillance'
prev story

Whitepapers

Cloud and hybrid-cloud data protection for VMware
Learn how quick and easy it is to configure backups and perform restores for VMware environments.
A strategic approach to identity relationship management
ForgeRock commissioned Forrester to evaluate companies’ IAM practices and requirements when it comes to customer-facing scenarios versus employee-facing ones.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Three 1TB solid state scorchers up for grabs
Big SSDs can be expensive but think big and think free because you could be the lucky winner of one of three 1TB Samsung SSD 840 EVO drives that we’re giving away worth over £300 apiece.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.