PowerDMS, a Orlando, Fla.-based document management solution company, received an equity investment from Frontier Capital.
The amount of the deal was not disclosed. As a result of the deal, Ballast Point Ventures will remain a shareholder in the company and continue to serve on the board of directors.
The company intends to use the funds to enhance its software-as-a-service platform and to scale the business.
Founded in 2001 by CEO Josh Brown, PowerDMS offers a software-as-a-service, cloud-based compliance and document management solution that allows organizations to reduce risk and liability. The company provides software tools to organize and manage all of a company’s critical documents and respective industry accreditation standards, as well as allow for training and testing of employees. PowerDMS has nearly 3,000 customer organizations in high-risk, high-litigation industries, including public safety, government and healthcare.
FinSMEs
25/01/2018