PSS Systems gets another $18M for legal document software
PSS Systems, which dubs itself as “the standard for legal hold and management software” (basically document policy software), has closed a fourth round of funding
The plan is to use the money to expand PSS Systems’ legal governance product portfolio and its presence in the US and European markets. The company is not yet profitable, but expects to be this year.
PSS Systems’ retention and prevention software packages are used by several large corporations including Citigroup, Merrill Lynch, Halliburton, Pfizer and Sprint to name a few.
This $18 million round was led by FTVentures and was participated in by existing investors, including Lightspeed Venture Partners, Azure Capital, Granite Ventures and Cipio Partners.
The Mountain View, Calif-based company raised $5 million around this time last year.
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About the Author, MG Siegler
MG Siegler writes about technology trends and new media for VentureBeat, with a focus on mobile topics, social elements and key news stories. Before that, MG wrote about technology on his blog, ParisLemon. Originally from Ohio, MG attended the University of Michigan where he studied film. He's previously lived in Los Angeles where he worked in Hollywood and in San Diego where he did web development. He now lives in San Francisco.