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Archive Systems Completes Series B Funding Round

Wednesday, June 27, 2007 5:00:00 AM PDT | VentureDeal Staff

FAIRFIELD, NJ -- Archive Systems, Inc. announced the close of its second round of institutional financing, receiving $11.5 million in new venture capital investment.

Archive provides services that automate the processes that manage the flow of document-oriented work.  The company offers its technology as an online service, rather than an on-premise software package.

The funding was led by The Carlyle Group and included existing investors Edison Venture Fund and NJTC Venture Fund.  The company plans to use the proceeds to expand sales and marketing efforts as well as continue product development.

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