Nitro yesterday announced that it has closed a $15 million funding round from Battery Ventures to accelerate its vision of bringing smarter documents to everyone. It also announced that Michael Brown, general partner at Battery, will be joining Nitro’s Board of Directors.
Nitro will use the funds to accelerate growth, drive innovation and adoption of its new Nitro Cloud offering, and continue its international expansion with a particular emphasis on developing the EMEA team.
Founded in Melbourne in 2005, Nitro received its first venture capital investment in 2012, from Australia’s Starfish Ventures. The business is on track to do over $30 million in revenue this year.
Nitro established its EMEA headquarters in Dublin in October 2013 with plans to hire 50 staff in its first two years of operation. Since then growth expectations have doubled with plans to hire over 100 staff by the end of 2016. With 30 employees and a new larger Dublin office of 5,000 sq ft on One Grand Parade now in place, the expansion in Europe has coincided with over 50% growth in EMEA customers since opening the Dublin office at the Web Summit last year.
Nitro has announced plans to open an Irish data centre by the middle of 2015. Options are currently being scoped out and the move will represent a significant multi-million euro investment.
To support growth in EMEA Nitro has appointed industry veteran Niall Gilmore as Regional Director, EMEA to the area’s leadership team. Gilmore came to Nitro having served five years as Citrix Systems Inc’s Ireland Country Manager and previously working in Microsoft for a number of years on Middle East and North Africa (MENA) operations. Nitro’s Dublin office is actively hiring for a range of positions, including multilingual sales, account management, customer service, and operations staff, as well as engineering and product roles.
Sam Chandler, Nitro’s Founder and CEO, said: “This investment allows us to bring our ‘Smart Documents’ vision to life for organisations of all sizes. We want to help our customers close contracts faster, save money, collaborate more efficiently, modernise their document processes, and do it all more elegantly and securely than the old ways of paper and email. We’re delighted to have a partner of Battery’s calibre coming aboard.”
Michael Brown, General Partner at Battery, said: “Every business deals with documents and knows the pain points in effectively sharing them and using them to collaborate with others. Both offline and online, Nitro is helping to solve these universal problems. It’s exciting to think that we’ve only just scratched the surface of this significant market opportunity and Battery is delighted to partner with the Nitro team to deliver on the company’s vision of bringing smarter documents to everyone.”
For more information, please visit https://www.gonitro.com