KnowledgeTree CEO Daniel Chalef brought his company to Raleigh, NC, from Cape Town, South Africa, just two years ago, after a pivot from an on-premise software company to a software-as-a-service cloud-based company made the company more attractive to investors.
This pivot appears to be the correct move, as KnowledgeTree announced today that the company has secured $4.75 million from a group of investors which include: River Cities Capital Funds, Core Capital Partners, and Hatteras Funds. Lead Series A investor Hasso Plattner Ventures Africa also participated in the round.
KnowledgeTree provides document management software, targeting mid-market companies with in-house legal and financial teams. Clients include Miramax, Vanderbilt University, and Fujifilm.