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AccuDraft Raises $650,000 in Venture Capital
LAKE MARY, FL (PRWeb) December 6, 2006 -- AccuDraft, a leading provider of fully-automated, rules-based contract lifecycle management (CLM) solutions, today announced that it has received an infusion of $650,000 from Smith-Hoffman Capital, LLC. Smith-Hoffman Capital is an Atlanta, GA-based firm that facilitates relationships between entrepreneurs and investors. The funding will enable AccuDraft to continue to provide the highest-quality implementation and support services to its rapidly-growing customer base. Additionally, it will help the company further extend its flagship DocsEngine product line to meet the changing contract management needs of today’s organizations.
The money will also be used to help AccuDraft significantly boost sales and marketing efforts. The company – who has earned a reputation as one of the leading providers of automated document creation and maintenance solutions for the pension industry – plans to implement a wide range of new programs and initiatives aimed at expanding its reach in other sectors and leveraging new revenue opportunities.
“The CLM marketplace is experiencing solid growth, as organizations in all industries realize the benefits that can be achieved by streamlining and automating this critical function,” said Jan Boswell, a Financial Analyst at Smith-Hoffman Capital. “AccuDraft’s unique rules-based approach to contract management clearly differentiates it from other CLM vendors, and offers its customers a strong value proposition.”
“Over the past few years, AccuDraft has won major deals at leading companies such as Shell Oil and T. Rowe Price. These accomplishments have put the company on an impressive growth path that we expect to continue for many years to come,” Boswell added.
This will be the first round of funding for AccuDraft.
“We are thrilled to have received this funding from Smith-Hoffman Capital,” stated Dan Sheehan, AccuDraft’s Executive Vice President of Sales and Marketing. “With this additional capital, we can tap into new markets, and allow more businesses in more industries to leverage the benefits of DocsEngine. Additionally, it will provide us with the resources we need to continue to deliver superior support to our clients, even as our customer base continues to grow.”
About AccuDraft
AccuDraft is a leading provider of Web-based Contract Lifecycle Management solutions built on unique, leading-edge rules-based capabilities. Since 1992, AccuDraft solutions have helped hundreds of clients – from small organizations to Fortune 500 companies – increase efficiency and reduce costs and risk by transforming the way they create, track, and manage their most critical business documents. For more information on AccuDraft and its solutions, visit www.accudraft.com.
About Smith-Hoffman Capital, LLC
Smith-Hoffman Capital, LLC, headquartered in Atlanta, GA, provides assistance with funding, consulting, and management. With a focus on organizations in the healthcare, technology, consumer products, education, and entertainment industries, Smith-Hoffman Capital helps structure companies’ goals and expectations for the initial level of funding, as well as subsequent rounds. Additionally, the company participates in management and assists in establishing strategic partnerships. Smith-Hoffman Capital is led by a team of successful entrepreneurs and investors with over 75 years of combined experience. For more information, visit www.smith-capital.net.
Contacts:
Dan Sheehan
Executive VP, Sales & Marketing
Phone: 407-774-8321 x135
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This press release has been reprinted from PRWEB per the terms and conditions of the copyright notice.
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