EFileCabinet, a US-based document management company, has raised $11.5m in its series C round from a consortium including AllegisNL Capital, a joint venture between Japan-based insurer Nippon Life and venture capital firm Allegis Capital.
AllegisNL Capital is a $150m pool of capital focused on fintech, insurtech, and digital healthcare. Two-thirds of the money is managed directly by a team at Allegis, with five deals struck so far, and $50m is in the form of a fund of funds (FOF) directed at smaller funds that can assist with deal flow and other relationships. Spencer Tall, managing director at Allegis, sits on the investment committee for the FOF, which has invested in two funds so far, he said.
In addition, Nippon Life is a limited partner in Allegis’ main cyber fund, which separately also co-led the EFileCabinet round with VC peer Signal Peak Ventures, which were joined by Camden Partners and Oquirrh Ventures.
EFileCabinet offers a software-as-a-service product, Rubex, for automation of documents to encrypted file-sharing and the new round will help it expand to insurance, healthcare, and human resources.
In June 2015, EFileCabinet raised $14m in its B round from Allegis Capital and Signal Peak Ventures, seven years after a $1m A round.
