It’s hard to know if Alfresco CEO Doug Dennerline knew what he was getting into when he took the helm at the open source enterprise content management provider 19 months ago. He was brought in to take the company public, and needless to say, that hasn’t happened.
And while for companies like Box, which filed for an IPO in March but has not even started its road show thus far, the state of the stock market might be an impediment, with Alfresco, it’s something else. They don’t yet have the right stuff.
So it’s no surprise that today they announced that they have raised a new round of “growth funding,” $45 million “to increase velocity of its Go-to-Market (GTM) strategy globally — focused on adding sales people, investing in marketing, and expanding development to drive the SaaS-ification of the content market,” according to a press release.