PowerDMS Closes on $5.3M Growth Equity Investment From Ballast Point Ventures

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PowerDMS, an Orlando cloud-based document management software company founded in 2001 by CEO Josh Brown, has closed on a growth equity investment of $5.3M from Ballast Point Ventures, a St. Petersburg venture capital firm providing expansion capital to rapidly growing, privately owned companies across several industries, including health care, business and financial services, communications and consumer/retail. PowerDMS’ platform organizes policies and procedures online, allowing companies to distribute crucial documents collaboratively, message employees and capture signatures.  Proceeds of the investment will be used to augment the company’s sales and marketing team and enhance its technology platform by offering new features to its customer base, which includes customers in law enforcement, public safety, healthcare, and retail. “The team at PowerDMS is excited by the possibilities that this investment provides,” said Brown. “We’ve worked hard to create our unique culture, where customer and employee satisfaction remain our top priorities. With this funding, we will be able to attract more top talent and accelerate the development of our software. We look forward to partnering with the Ballast Point Ventures team, who shares both our long-term perspective and our belief in the importance of building great relationships with our customers and employees.” “PowerDMS’s industry-leading position in Enterprise Content Management in their targeted industry verticals is a testament to the vision and technology platform developed by the management team over the last few years,” said Ballast Point Ventures’ Robert Faber, who will join the PowerDMS Board of Directors. “What Josh and his team have accomplished to date with no outside capital has been very impressive, and we are excited to partner with them to build a leading technology company in Central Florida.” Read more here.