As more companies move to a hybrid workforce model, Templafy has closed $60 million to help make sure employees have access to the documents and emails they need to do their jobs.
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The new round was led by Blue Cloud Ventures with participation from all previous investors including Insight Partners, Seed Capital, Dawn Capital and Damgaard Co. Founded in 2014, the company has now raised $125 million.
Templafy’s content enablement platform allows companies to store needed work items like documents, presentations and emails so employees have secure and easy access, said CEO Jesper Theill Eriksen. The platform integrates with popular office applications such as Microsoft and Salesforce1, so no matter what an employee is using they can retrieve what is needed for a document they are writing or a presentation they are putting together.
“The dispersed workforce has grown,” Theill Eriksen said. “We can provide employees with what they need to work — especially now when you cannot just ask your colleague next to you, ‘Where did you find that?’”
Timing right
The nearly 400-person company does not release revenue numbers, but Theill Eriksen said it has more than 600 customers and saw a 121 percent increase in net new ARR additions during the first quarter this year compared to the same quarter last year.
That growth came after the company raised a $25 million Series C in April of last year. Theill Eriksen said the new funding will be used to continue to push the growth of the company — which has no true headquarters but large offices in Copenhagen and New York — and show companies the importance of content in the business enablement stack.
Jonathan Rosenbaum, vice president at Insight, said while his firm has been an investor in the company for the last several years, this round was even more exciting because of all that has changed when it comes to the workplace over this past year.
“The future of work is top of mind for everyone and as we navigate remote and hybrid set-ups, the need for tech solutions that enable businesses is more important than ever,” Rosenbaum said.
While Templafy estimates the market for content enablement to be around $14 billion, Theill Eriksen agreed it is not the only company in the space. Companies such as Colorado-based Conga — which was bought by Apttus in a $715 million deal last year — and PandaDoc also compete in the growing market, he said. However, Theill Eriksen said his company’s platform is less automated and more flexible than Conga’s offerings, and PandaDoc sells into the medium-sized enterprise space while Templafy mainly focuses on large enterprises.
With both the market and its platform, Rosenbaum believes Templafy eventually will have many options in its future.
“Given its technological leadership and wide applicability, Templafy will of course have suitors as there are many large companies which want to take more ownership of the business user,” he said. “But it has an opportunity to be a growing, independent company for quite some time.”
Illustration: Li-Anne Dias.
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