FileNet Corp. of Costa Mesa announced Tuesday...
- Share via
FileNet Corp. of Costa Mesa announced Tuesday the completion of a $13.8-million third round of private financing that brings total private capital investment in FileNet to $30.5 million.
The company, which manufactures a document image-processing system and an optical storage and retrieval library designed to reduce paper work, has been selling its products in the U.S. and Europe since last August.
“We are expecting about $15 million in sales this year,” said Mark St. Clare, vice president of finance, in an interview on Tuesday.
Major investors in the latest round of financing include Weiss, Peck and Greer; Matrix Partners; General Electric Pension Fund; Olivetti; Brentwood Associates; Aetna Life and Casualty Co.; Security Pacific Capital Corp.; Jamieson and Co.; Prudential Assurance Ltd. (U.K.); John Hancock Venture Capital; AVA Partners (an investment unit of American Express); Kemper Financial Services; Hambrecht & Quist, and New West Ventures.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
