UK-based enterprise software developer Alfresco Software raised $45m in series D funding yesterday from investors including SAP Ventures, software company SAP’s corporate venturing unit.
Investment firm Sageview Capital led the round, which also featured venture capital firms Accel Partners and Mayfield Fund.
Alfresco produces software that helps businesses manage content and claims to have more than 1,800 active customers across 212 countries.
The company has now raised $65.4m since it was founded in 2005, including $9m from a 2008 series C round led by SAP Ventures that also included Accel and Mayfield.
Doug Dennerline, Alfresco’s chief executive, said: “Alfresco is innovating at the intersection of business-critical content, process and collaboration.
“With a customer renewal rate at 90% and a strong balance sheet, we took additional funding as jet fuel to take the company and industry to the next level in critical business services.”