Docstoc Series B Funding Press Release

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Docstoc Series B Funding Press Release Powered By Docstoc
					Docstoc.com Secures $3.25 Million in Series B; Sights Set on Building the Largest Repository of Publicly Available Documents Company raises a 2nd round of capital lead by Rustic Canyon Partners, will enable docstoc to build platform to find and promote any document as well as connect content consumers with targeted professionals. BEVERLY HILLS (April 29, 2008) -- Docstoc.com, the premier online community to find and share professional documents, announced today that it has secured a series B round of financing for $3.25 million. The deal was led by Rustic Canyon Partners based in Santa Monica, California. The company previously raised a Series A round from a group of angel investors including Scott Walchek (investor in Baidu), Matt Coffin (founder and CEO of lowermybills.com) Brett Brewer (co-founder of intermix/MySpace), Robin Richards (cofounding president of MP3.com), and Crosscut Ventures. The series B funding will enable the company to build the largest repository of publicly available documents and to help connect users looking for content with professionals across a variety of categories. Docstoc is the premier destination of legal, business, financial, educational and technology documents, forms, templates, and whitepapers that can be previewed and downloaded for free. “Rustic Canyon has an esteemed history of investing in successful, game-changing companies, and we’re honored to be included on their roster,” said Jason Nazar, CEO and co-founder of Docstoc. “Docstoc will be the one stop destination to find any document you need for any reason, and we will continue to build technology that integrates with other websites and companies, to enable the sharing and promotion of valuable content all across the web.” In addition to serving as a destination to find and share documents, Docstoc has popularized the ability to embed documents (word, excel, ppt, pdf) in any blog or website. This feature has become widespread amongst the blogosphere and news sites such as the Huffington Post, an industry well understood by the media-savvy Rustic Canyon Partners. “Docstoc is at the forefront of a profound shift in how people share and access content”, said David Travers of Rustic Canyon Partners. “This investment will allow them to continue to build the technology and business team required to amass a comprehensive library of documents from both user-generated content and corporate partnerships.” Docstoc is currently adding to its full-time staff in Beverly Hills, and hiring .NET and Flex developers as well as looking for premier candidates with strong backgrounds in marketing and business development from consumer facing web 2.0 brands. For more information, please visit www.docstoc.com/jobs

### About Docstoc.com Docstoc is the premier online community to find and share professional documents. Docstoc provides the platform to upload and share documents with all the world, and serves as a vast repository of legal, business, financial, technical, and educational documents that can be easily searched, previewed and downloaded for free. Docstoc is also a primary source for professionals and businesses to promote themselves through their content for increased exposure and business leads. Docstoc was founded by Jason Nazar and Alon Shwartz in 2006 and was selected as one of the initial presenting TechCrunch40 Companies. The site publically launched in November 2007, and has since attracted over 200,000 publically shared documents and 85,000 registered users. About Rustic Canyon Partners With over $800 million under management, Rustic Canyon Partners invests in early stage companies positioned for strong growth. The firm focuses on growth opportunities catalyzed by technological shifts, market evolution, or regulatory changes. To date, Rustic Canyon has invested in a broad array of sectors including digital media, business and information services, communications, software, and renewable energy. Rustic Canyon Partners has offices in Santa Monica, Silicon Valley and Seattle. For more information, visit www.rusticcanyon.com


				
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posted:4/28/2008
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