PSPDFKit Takes Venture Capital
PSPDFKit, the leading document processing and manipulation platform for developers and enterprise businesses, today announced its first strategic growth investment led by Insight Partners, a New York-based global venture capital and private equity firm focused on growth-stage software and technology companies. Insight’s investment, which totals more than €100 million, is expected to accelerate product growth and fund strategic acquisitions, further expanding the capabilities of PSPDFKit’s highly adopted document processing platform.
Nearly a billion end-users in over 150 different countries rely on PSPDFKit every day while using web and mobile applications that are built on the company’s platform, including industry leaders like Dropbox, DocuSign, SAP, IBM, Volkswagen, Fabasoft, Wolters Kluwer Deutschland, and the European Patent Office.
PSPDFkit is already profitable, and it has been for a while, so this investment is about stepping up its pace of growth. It plans to use the investment to build more developer tools, make strategic acquisitions (co-founder and CEO Jonathan Rhyne is mum about what, except to say that it will be to expand the suite of useful tools that it provides); and, for the first time, make some concerted efforts in the areas of sales and marketing.
Via Peter Steinberger:
After 10 years of building PSPDFKit, I am moving into an advisory role.
Previously:
