Nitro Raises $15M from Battery Ventures
Bernadette Tansey November 04, 2014
Nitro tool, a San Francisco-based startup competitor to digital media giant Adobe (NASDAQ: ADBE), has raised $ 15 million from Battery Ventures to enlarge the marketplace for its PDF record creation and sharing products.
Nitro, founded in Melbourne, Australia in 2005, has been challenging Adobe’s Acrobat with its product Nitro pro, a personal computer platform for growing PDF documents that may be shared with industry partners and employees to speed up work flows. Nitro’s newer product, Nitro Cloud, permits collaborators working on the identical file or contract to make use of cellular units in addition to personal computer computers.
the speculation in the back of Nitro’s “sensible documents” suite is to do away with time-ingesting steps like printing, faxing, and turning in paper documents as firms work on duties akin to getting a contract finalized and signed, or sealing a deal with a new rent.
“For sharing, taking part, and signing, we have a novel offering with highly effective features to help companies work smarter; and that you could get all these features from one Nitro answer, somewhat than more than one companies,” Nitro CEO Sam Chandler (pictured above) mentioned in an e mail to Xconomy. “we’re proud to have what we consider are the easiest to use and easiest to set up products in the market as of late.”
users of Nitro’s merchandise can collaborate with customers of Adobe’s software, and vice versa, Chandler says.
Nitro says it has 490,000 customers in almost 200 nations, and a group of workers that has grown to 150 at its San Francisco headquarters and four other places. Counting the new cash from Battery Ventures, Nitro has raised a complete of $ 21.6 million. Australia’s Starfish Ventures was the company’s first venture backer.
Battery Ventures, which operates workplaces in Boston and Menlo Park, CA, has made different investments in San Jose-primarily based Adobe’s territory. It used to be the lead investor in Paris-based advertising software firm Neolane, which Adobe obtained in 2013 for $ 600 million. Battery also led a $ thirteen.5 million spherical for sales instrument startup Yesware in 2013.
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