Philadelphia, PA (PRWEB) August 08, 2011
DDC, the cloud-based critical data management solution for companies, boards, and investors, has received funding in a seed round led by Robin Hood Ventures (http://www.robinhoodventures.com).
Founded in 2009 by serial entrepreneur Farid Naib, DDC has developed two software platforms, Radar, which was designed for use by organizations and companies to provide management of key documents, and Sonar, which helps venture capital and private equity firms manage their investments and LP communications. Radar and Sonar also integrate together to provide a better way to manage investment-backed companies.
DDC Radar is a secure, central repository for a company’s most critical data. It is organized according to a pre-defined filing structure with data summaries for easy information retrieval. Built-in reminders and notifications in Radar increase efficiency through improved workflow. Radar also contains logical, functional enhancements and add-on modules to manage boards and cap tables and to report financials.
DDC Sonar is a secure investment monitoring and reporting solution for venture capital and private equity firms, as well as angel groups. It automates the collection of financials and other materials from portfolio companies, reducing the time-consuming, manual tasks that often engage partners’ and controllers’ time. Customizable reporting tools empower the investor with decision-critical information and insight across their entire portfolio while promoting firm transparency. Investors can consolidate financials across a portfolio as well. Sonar also contains an LP reporting module and portal.
Prior to investing in DDC, Robin Hood was a client first. Commenting on Robin Hood’s investment, Dave Kurtz says, “Having used the software ourselves, we knew that DDC had great success ahead of it. We are delighted to be part of that bright future in more ways than one.” Robin Hood currently uses Sonar to track 20 plus investments.
“This funding comes at a very exciting time for DDC,” says CEO Farid Naib. “We see our user base growing weekly as we continue to refine our product based on the feedback of our users. With new regulatory requirements for PE firms due to Dodd-Frank and the growing realization that improved corporate governance leads to better results, we see continued growth ahead for DDC.”
DDC plans to use the funds for continued product development and sales expansion. Dave Kurtz, one of the members who led the round from Robin Hood, will be joining DDC’s board.
DDC creates critical data management (CDM) SaaS applications that organize critical corporate information, create document and communication workflow, improve investment management, and automate many of the manual tasks that consume executives’ time and resources. DDC creates smart, personalized digital filing cabinets with out-of-the-box functionality. For more information contact DDC at 800.872.9394 or visit http://www.docdep.com.
About Robin Hood Ventures
Robin Hood Ventures is a group of angel investors, focused on early-stage, high-growth companies in the Greater Philadelphia region. We help entrepreneurs build great companies, providing capital, mentoring, expertise and connections to help companies reach their potential. Robin Hood generally invests $250k to $500k, and collaborates with angels, institutions and VCs in our network. We invest as a single entity in businesses we know and understand, in a way that gets deals done. Since 1999, we have invested over $11M in over 30 companies in industries including software, medical devices, biotech, internet and financial technology.
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