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Frontier Capital Completes $25 Million Investment in Cloud-Based NetDocuments

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SOURCE Frontier Capital

Marks Second Successful Investment In Utah-Based Company in a Year

CHARLOTTE, N.C., July 15, 2014 /PRNewswire/-- Frontier Capital today announced its investment in NetDocuments, a leading software-as-a-service (SaaS) document management provider based in Lehi, Utah.  Frontier's $25 million investment in NetDocuments provides capital to support the company's increasing growth in the legal market.

Frontier Capital logo

Frontier focuses exclusively on investing in software and technology-enabled business services companies in areas, such as Utah, with significant entrepreneurial activity but limited local capital.

"With its cloud-based document management offering, strong management team and proven success in an emerging marketplace, NetDocuments is an ideal fit for our investment portfolio," said Michael Ramich, partner, Frontier. "The added capital will help NetDocuments support a more aggressive sales and marketing effort, enhance its application to keep ahead of the competition, and otherwise expand its executive team to help capture an increased portion of the legal market."

Prior to the investment, NetDocuments and Frontier built a strong working relationship based on trust and mutual objectives.

"Our discussions with Frontier have made it increasingly clear that they understand the benefits our technology brings to the legal market, and as a result, will bring valuable strategic direction as well as financial resources," said Ken Duncan, CEO, NetDocuments. "With this investment, we'll be able to provide higher levels of customer service along with additional resources that will enable us to gain greater market share as law firms and other service companies switch to the cloud."

Another Successful Utah Investment

August marks the year anniversary of Frontier's investment in Provo, Utah-based MultiLing, the innovative leader in intellectual property (IP) translations and related support services for foreign patent filings. The company has a strong management team and a unique streamlined translation model long in use by clients such as Procter & Gamble, Dow Corning and Yokohama Rubber.   

"Our relationship with MultiLing is a great example of a strong working partnership, one we expect to duplicate with NetDocuments," Ramich said. "With the majority of our investment going towards sales and marketing worldwide, and the expanding of its talented executive team, MultiLing is growing at a much faster rate than before we invested."

About Frontier Capital?
Frontier Capital is a North Carolina-based growth equity firm focused exclusively on software and technology-enabled business services companies. Founded in 1999, Frontier partners with management teams that can benefit from capital to accelerate growth, fund acquisitions or generate shareholder liquidity. Visit www.frontiercapital.com.

About NetDocuments
Founded in 1999, NetDocuments' cloud-based document management service has given law firms of all sizes – including some of the world's largest and most prestigious - the ability to reduce costs and increase security, mobility and disaster recovery to documents and emails from anywhere and on any device. With anytime, anywhere access enabled by offices and fully redundant datacenters in the United States and United Kingdom, firms are able to increase productivity and improve client experiences through a comprehensive cloud-based service. Visit www.netdocuments.com

Contact:

Kelly Wanlass
801-602-4723
kelly@snappconner.com

Photo - http://photos.prnewswire.com/prnh/20140715/127024

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