Notable Solutions Inc., a Rockville, Md.-based provider of distributed document management solutions, has raised $5 million from Edison Venture Fund.
Edison Venture Fund announced a $5 million investment in Notable Solutions Inc. based in Rockville, MD. The proceeds will be used to expand sales, marketing and development of this later stage company.
NSi is a leader in the distributed document management market. The company’s capture, processing and routing software integrates paper-based processes and electronic information into business applications. Based on a revolutionary architecture, NSi is radically faster, scalable and more adaptive than legacy centralized document management software. Over 2,500 customers worldwide leverage NSi products to automate distributed document processing. NSi’s products are distributed by companies such as Xerox, Ricoh/IKON, Kyocera, Kodak, Fujitsu, HP and Sharp.
Sever Totia, Principal, and Chris Fountain, Edison Director Network member, serve on NSi’s Board of Directors. Chris Fountain was the CEO of Digital Paper and EVP Sales of POMS. Rob Finn, Associate, conducted Edison’s due diligence.
“Edison’s value-added services and strategic guidance will be instrumental in our success,” stated Mehdi Tehranchi, CEO. “Edison’s network and portfolio companies contribute to business development.”
“The attractive market opportunity and impressive management team are driving NSi’s accelerated growth,” stated Sever Totia. “Customers praised NSi’s streamlined innovative solutions and exceptional service,” added Rob Finn.
Edison has invested in 19 business services companies. Active portfolio companies include Archive Systems, Billtrust, Blue Cod, Fishbowl Marketing, Formatta, Innovectra, Neat, Operative, and VFA.
Edison has made 13 investments in Maryland. LogicTree, and Regent Education are segment leaders. Successful Maryland exits include Axent, NFR Security, Skills Bank, Visual Networks and Vocus.
About Edison Venture Fund
Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion stage ($5 to 20 million revenue), information technology businesses. Initial investments range from $4 to 8 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.
Edison’s investment professionals are based in Lawrenceville, NJ, McLean, VA, New York, NY, Needham, MA and West Chester, PA. Industry specialties include application software, communications, financial technology, interactive marketing, healthcare & pharmaceutical IT. Edison’s successes include Best Software, Dendrite, E-Transport, Gain Capital, Liberty Tax, MathSoft, Princeton Financial, VirtualEdge and many other information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $550 million under management and is actively making new investments. www.edisonventure.com
About Notable Solutions, Inc. (NSi)
NSi is a leading provider of Content Capture Workflow and Business Automation solutions. NSi’s product automates repetitive business processes by integrating paper-based and electronic information into the existing business processes and line of business applications. The company’s product is used by numerous industries including legal, healthcare, and financial services. NSi’s products enable organizations to reduce costs, increase security, address compliance and add value to their business. For more information please visit www.nsius.com.