Shinydocs, a Waterloo, Ontario-based digital information management software company, announced that it raised $16.25 million in a funding round led by First Ascent Ventures and Export Development Canada (EDC).
This investment will enable Shinydocs to scale its sales and marketing resources to access a wider customer base and challenge the industry's assumptions about information management.
"Our customers are seeing exponential growth in the volume of unstructured data held across the organization. Approximately 90 percent of an organization's corporate data is unstructured," says Jason Cassidy, Shinydocs CEO. "Yet, the nature of this data makes it difficult to identify and manage, which creates operational risk, slows productivity, and limits innovation. Shinydocs enables companies to form valuable insights by accessing petabytes of content stored across the organization. Stakeholders can finally understand where and how much data is held across the organization to drive key decision making. Our innovations solve the hardest problems with content scale, complexity, usability, and governance."
The company provides software and services to make it easier for companies to find the files, documents, and records that hold valuable business information by taking a search engine approach that crawls through structured and unstructured corporate document repositories to discover data and then automatically recognize, classify, and index the content.
Shinydocs is poised to capture a growing segment of the fragmented information management market at a critical time for enterprises by managing and driving business value hidden within unstructured data amongst an organization's content, files, documents, and media.
Company: Shinydocs Corporation
Raised: $16.25M
Round: Unknown
Funding Month: March 2023
Lead Investors: First Ascent Ventures and Export Development Canada (EDC)
Additional Investors:
Company Website: https://shinydocs.com/
Software Category: Information Management Software
About the Company: Shinydocs is a Canadian tech company that is rethinking how data is used to drive real business results. Its software automates the process of finding and identifying all files, media content, and documents buried in repositories across an organization. Shinydocs' software operates without any disruption to the end user, allowing employees to work as usual without the need to migrate data or switch between different applications. The company believes that there's a better, more intuitive, and cost-effective way for organizations to manage information. This belief has propelled Shinydocs forward in the development of the company's software, services, and strategy and allows Shinydocs to support organizations such as AgNovos Healthcare and Dunedin City Council in the pursuit of improving customer experience, collaboration, innovation, and the ability to demonstrate compliance with industry regulations through the easier and more effective management of business content.
Source: https://www.newsfilecorp.com/release/158392