Welcome!

News Feed Item

Workshare Secures $8.4 Million Revolving Credit Facility from Wells Fargo Capital Finance

Workshare, a leading provider of secure enterprise file sharing and collaboration applications, announced today that it has entered into an $8.4 million credit facility with the Technology Finance Division of Wells Fargo Capital Finance, part of AA-rated Wells Fargo Bank. This augments the company’s $33.8 million in funding raised from Business Growth Fund and Scottish Equity Partners, which was closely followed by the company’s successful merger with SkyDox and IdeaPlane, a cloud collaboration company and social business platform provider.

Workshare will use the facility to accelerate the development of its enterprise-grade file sharing and collaboration product offerings for cloud, desktop, and mobile channels.

Workshare is used by more than 2 million knowledge workers, from over 62% of the Fortune 1000, representing semi-regulated and highly regulated sectors such as legal and professional services, banking and finance, life sciences, and healthcare to securely create, share, and collaborate on high-value content.

“As this sector continues to evolve, companies will only succeed if they address users’ needs for simplicity and ease of use while providing IT groups with complete control of their organizations’ content,” said Steven Osborne, Business Development Officer and Director of the U.K. Technology Finance Team at Wells Fargo Capital Finance. “Our tech lending team has a deep understanding of the software sector and were impressed by Workshare’s business model, which boasts an established recurring revenue model, solid customer base, and high customer-retention rates. We are pleased to work with Workshare and look forward to the company’s continued success in this rapidly growing market.”

Anthony Foy, CEO at Workshare, commented, “It’s great to see that our measured approach to growing the company has been recognized by one of the world’s leading banks. We are proud to work with such a professional and experienced tech lending team that understands our vision and business model, as well as Torch Partners who have supported the process. This funding will allow us to continue to develop and provide innovative and highly secure enterprise collaboration offerings that exceed both IT and user needs.”

Resources

Tags

Workshare, enterprise collaboration, secure collaboration, funding, Wells Fargo, file sharing, file transfer, enterprise, IT, security, metadata,

About Workshare

Workshare is a leading provider of secure enterprise file sharing and collaboration applications. Workshare allows individuals to easily create, share, and manage high-value content in cloud storage anywhere, on any device. Workshare enhances the efficiency of the collaborative process by enabling content owners to accurately track and compare changes to shared documents from contributors simultaneously. Workshare also reduces the commercial risk posed by inadvertently sharing confidential or sensitive documents. More than 2 million professionals in 70 countries use Workshare’s award-winning desktop, mobile, tablet, and online applications. For more information visit http://www.workshare.com or follow Workshare on Twitter at http://www.twitter.com/workshare.

About Wells Fargo Capital Finance

Wells Fargo Capital Finance provides financing solutions for companies in specific industries such as retail, software publishing and high-technology, commercial finance, staffing, government contracting, and others. For more information, visit wellsfargocapitalfinance.com.

More Stories By Business Wire

Copyright © 2009 Business Wire. All rights reserved. Republication or redistribution of Business Wire content is expressly prohibited without the prior written consent of Business Wire. Business Wire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Latest Stories
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. MangoApps provides modern company intranets and team collaboration software, allowing workers to stay connected and productive from anywhere in the world and from any device. For more information, please visit https://www.mangoapps.com/.
A strange thing is happening along the way to the Internet of Things, namely far too many devices to work with and manage. It has become clear that we'll need much higher efficiency user experiences that can allow us to more easily and scalably work with the thousands of devices that will soon be in each of our lives. Enter the conversational interface revolution, combining bots we can literally talk with, gesture to, and even direct with our thoughts, with embedded artificial intelligence, wh...
Enterprise networks are complex. Moreover, they were designed and deployed to meet a specific set of business requirements at a specific point in time. But, the adoption of cloud services, new business applications and intensifying security policies, among other factors, require IT organizations to continuously deploy configuration changes. Therefore, enterprises are looking for better ways to automate the management of their networks while still leveraging existing capabilities, optimizing perf...
The IoT is changing the way enterprises conduct business. In his session at @ThingsExpo, Eric Hoffman, Vice President at EastBanc Technologies, discuss how businesses can gain an edge over competitors by empowering consumers to take control through IoT. We'll cite examples such as a Washington, D.C.-based sports club that leveraged IoT and the cloud to develop a comprehensive booking system. He'll also highlight how IoT can revitalize and restore outdated business models, making them profitable...
Many banks and financial institutions are experimenting with containers in development environments, but when will they move into production? Containers are seen as the key to achieving the ultimate in information technology flexibility and agility. Containers work on both public and private clouds, and make it easy to build and deploy applications. The challenge for regulated industries is the cost and complexity of container security compliance. VM security compliance is already challenging, ...
SYS-CON Events announced today that ContentMX, the marketing technology and services company with a singular mission to increase engagement and drive more conversations for enterprise, channel and SMB technology marketers, has been named “Sponsor & Exhibitor Lounge Sponsor” of SYS-CON's 18th Cloud Expo, which will take place on June 7-9, 2016, at the Javits Center in New York City, New York. “CloudExpo is a great opportunity to start a conversation with new prospects, but what happens after the...
The pace of innovation, vendor lock-in, production sustainability, cost-effectiveness, and managing risk… In his session at 18th Cloud Expo, Dan Choquette, Founder of RackN, will discuss how CIOs are challenged finding the balance of finding the right tools, technology and operational model that serves the business the best. He will discuss how clouds, open source software and infrastructure solutions have benefits but also drawbacks and how workload and operational portability between vendors...
The essence of data analysis involves setting up data pipelines that consist of several operations that are chained together – starting from data collection, data quality checks, data integration, data analysis and data visualization (including the setting up of interaction paths in that visualization). In our opinion, the challenges stem from the technology diversity at each stage of the data pipeline as well as the lack of process around the analysis.
As machines are increasingly connected to the internet, it’s becoming easier to discover the numerous ways Industrial IoT (IIoT) is helping to shape the business world. This is exactly why we have decided to take a closer look at this pervasive movement and to examine the desire to connect more things! Now if you need a refresher on IIoT and how it is changing the world, take a moment and listen to Greg Gorbach with ARC Advisory Group. Gorbach believes, "IIoT will significantly change the worl...
The 19th International Cloud Expo has announced that its Call for Papers is open. Cloud Expo, to be held November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, Big Data, Internet of Things, DevOps, Containers, Microservices and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding business opportunity. Submit y...
Internet of @ThingsExpo, taking place November 1-3, 2016, at the Santa Clara Convention Center in Santa Clara, CA, is co-located with the 19th International Cloud Expo and will feature technical sessions from a rock star conference faculty and the leading industry players in the world and ThingsExpo New York Call for Papers is now open.
Designing IoT applications is complex, but deploying them in a scalable fashion is even more complex. A scalable, API first IaaS cloud is a good start, but in order to understand the various components specific to deploying IoT applications, one needs to understand the architecture of these applications and figure out how to scale these components independently. In his session at @ThingsExpo, Nara Rajagopalan is CEO of Accelerite, will discuss the fundamental architecture of IoT applications, ...
In his session at 18th Cloud Expo, Bruce Swann, Senior Product Marketing Manager at Adobe, will discuss how the Adobe Marketing Cloud can help marketers embrace opportunities for personalized, relevant and real-time customer engagement across offline (direct mail, point of sale, call center) and digital (email, website, SMS, mobile apps, social networks, connected objects). Bruce Swann has more than 15 years of experience working with digital marketing disciplines like web analytics, social med...
SYS-CON Events announced today that Enzu, a leading provider of cloud hosting solutions, will exhibit at SYS-CON's 18th International Cloud Expo®, which will take place on June 7-9, 2016, at the Javits Center in New York City, NY. Enzu’s mission is to be the leading provider of enterprise cloud solutions worldwide. Enzu enables online businesses to use its IT infrastructure to their competitive advantage. By offering a suite of proven hosting and management services, Enzu wants companies to foc...
Customer experience has become a competitive differentiator for companies, and it’s imperative that brands seamlessly connect the customer journey across all platforms. With the continued explosion of IoT, join us for a look at how to build a winning digital foundation in the connected era – today and in the future. In his session at @ThingsExpo, Chris Nguyen, Group Product Marketing Manager at Adobe, will discuss how to successfully leverage mobile, rapidly deploy content, capture real-time d...