Docupace Technologies LLC said June 1 that it raised $16.5 million in capital from Palisades Growth Capital and TVC Capital. Los Angeles-based Docupace provides federal and state law compliant electronic processing platforms for financial institutions and the wealth management industry.
LOS ANGELES – (June 1, 2016) – Docupace Technologies LLC, a leading financial
tech, digital compliance and cyber security company, announced that it has raised
$16.5 million in capital from Palisades Growth Capital and TVC Capital. The funds will
be used to fuel the company’s long-term growth plans. Paul D’Addario from Palisades
Growth Capital and Jeb Spencer from TVC Capital will join the Board of Directors of
The financing will assist Docupace in implementing the company’s core cyber-secure,
paperless and compliant Straight-Through Processing for financial services firms.
Docupace will also continue to implement its newer suite of products and services,
some of which include cyber security services, alternative investment processing, and compliant and paperless advisor transition processing.
“Docupace is on a long-term growth trajectory,” said Michael Pinsker, founder and
CEO of Docupace. “In the past 18 months we have innovated with new products,
strengthened our market-share and supplied quality products and services to our
clients. We are now independent and have the funds needed to propel us forward.
We are excited about our mission to help transform the financial services industry
into one that’s efficient, compliant and cyber-secure. We are also very pleased to
have added seasoned software and technology professionals to our Board of
TVC Capital is a San Diego-based growth equity firm focused on software investments
and acquisitions and Palisades Growth Capital is a growth stage technology
investment firm based in Los Angeles.
“We are delighted to have the opportunity to partner with Docupace given their
formidable position in their industry, their high level of customer satisfaction and the
mission critical nature of their product offering. We are very enthusiastic about the
company’s long term product roadmap and plans to continue to provide innovative
solutions,” said Jeb S. Spencer, Managing Partner of TVC Capital. “Docupace has a
history of resilience and innovation. They have supported their customers in the
highly-regulated financial services industry in unprecedented ways and we saw a
unique opportunity to help fuel their continued success.”
“As a Southern California-based firm, we are particularly interested in how Los
Angeles financial tech company Docupace has managed to help bring financial
services firms into the 21st Century.” said Paul D’Addario, Managing Partner of
Palisades Growth Capital. “Our deep understanding of technology companies has
convinced us that Docupace’s independence presented a tremendous opportunity for
us to assist them with further growth.”
About Docupace Technologies
Based in Los Angeles, Docupace is a premier provider of secure and federal and state
law compliant electronic processing platforms for financial institutions and the wealth
management industry. The company pioneered and implemented SEC/FINRA
compliant Straight-Through-Processing (STP) technology for the financial services
industry. The company’s document management and workflow solutions simplify the
process of capturing, organizing, routing and accessing information. Docupace was
first-to-market with patent-pending technologies that serve the largest financial
service providers and their advisors who, driven by increased levels competition,
privacy issues, document protection and government regulation, are adopting the
company’s document management and workflow solutions in order to sustain
profitability and audit-risk assurance. As a leading provider of cyber security services,
Docupace also helps broker-dealers and financial services firms become cyber secure
by assessing vulnerabilities, correcting potential gaps, and providing ongoing
monitoring. For more information, visit docupace.com.
About TVC Capital, LLC:
TVC Capital is a San Diego-based growth equity firm with over $235 million under
management. TVC is focused on investments in and acquisitions of business critical
software firms. TVC targets a wide spectrum of software sectors and industry
verticals that are poised for growth and consolidation. The TVC team is led by
operating executives with more than 80 years of experience growing technology
companies into market leaders. Current and past investments include Accordent
Technologies, Levels Beyond (Reach Engine), Del Mar Datatrac, Limeade,
LiquidPlanner, MediaPlatform, Mercent, Centage, Celigo and ReverseVision. For more information, visit www.tvccapital.com.
About Palisades Growth Capital:
Palisades, based in Los Angeles, with over $180 million under management makes
growth stage investments in technology, media & telecommunications and business
services sectors, encompassing a wide variety of industries including healthcare,
consumer/retail, environmental services, financial services and manufacturing
services. Palisades makes significant minority structured preferred equity
investments in growth stage companies with proven products, solid management
teams, with established revenues that are primarily based in Southern California and
the Western US. The investment in Docupace was made from the firm’s second fund.
Current and past investments include: Apacheta, Akana, Language Weaver,
Lucix, MegaPath, Omneon, Peregrine Semiconductor, Polaris Wireless, Visage and
XAD. For more information, visit www.palisadesgrowth.comGet your FREE trial or subscribe now to Buyouts to find new deal opportunities, super-charge your fundraising efforts and track top managers.