SaaS firm FileFacets secures $4 million in funding

Ottawa-based FileFacets has raised $4 million in funding, the company announced this week. The funding round was led by Celtic House Venture Partners, which provided $2 million. Wesley Clover ($1 million), Green Capital Investments ($500,000) and smaller investors ($500,000) also participated in this round.

FileFacets makes a hosted Information Governance (IG) implementation Software as a Service (SaaS) product which is currently being used by federal, state and local governments as well as in the utilities, oil and gas, finance and construction sectors. FileFacet’s SaaS solution allows users to automate the classification, attribution and migration of unstructured content while operating off of Microsoft’s Azure cloud computing service.

The firm says it will use its latest funding to help continue its channel strategy.

Read about FileFacets in the November 24 Financial Post article SaaS startups look to monthly revenue models to spark growth

LaBarge Weinstein acted as counsel to FileFacets with a team that included Shane McLean and Brigitte LeBlanc-Lapointe.