
Nuxeo, the French open source content management vendor, has taken on £1.7m in a Series A funding round led by OTC Asset Management. It also announced that founder and CEO Stefane Fermigier has stepped up to the chairman role, while Eric Barroca has taken over as CEO.
Nuxeo will use the investment to fund growth into the ECM market, focusing on product development and, “the acceleration of its international expansion plans.” [click continue reading for more]
Nuxeo was previously self-financed and claims that it has seen “balanced accounts” since its launch. It claims to be one of the largest open source vendors in Europe, with over 40 staff. It says its major customers are global Fortune 1000 companies, especially in press, defense, industry and government sectors.
Patrick de Roquemaurel, director of investments at OTC Asset Management and Fund representative at the supervisory board, said: "The capacity for innovation and the strategic choices of Nuxeo, makes it a very serious candidate for defining the ECM market at an international level."
Incoming CEO Eric Barroca was previously executive VP of operations. Arnaud Lefevre, executive VP of sales, also joins the management board. Stéfane Fermigier, founder and previously CEO, joins the supervisory board as chairman.
Said Barroca: "In a troubled economy, Nuxeo focuses more than ever on the fundamentals of its identity to deliver value, a highly-motivated team, innovative products, excellence in customer care and an efficient pricing model. The confidence of our customers, our partners and our team have enabled Nuxeo to become a key-player in its market, I thank them deeply for that. It is with their support that we begin this new chapter in the history of Nuxeo."
Nuxeo was founded in 2000 in Paris and has a subsidiary in the UK. Integration partners include Atos Origin, Business & Decision, Capgemini, Eurocis, LogicaCMG/Unilog and more.
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