Nuxeo scores another €2.7 million from OTC Asset Management

More good news from the French open source scene: Paris-based open source enterprise content management (ECM) platform, Nuxeo, has just announced another €2.7 million in funding from OTC Asset Management – one of its principal investors.

After the €2 million raised in December 2008, this additional funding will put the company’s series A round at €4.7 million.

Founded in 2000 and based on a subscription premium service business model (called Nuxeo Connect), the company’s open source business applications are currently used by clients like Agence France Presse (AFP), Leroy Merlin and the BBC. Playing alongside ECM suites of top tier companies like OpenText, IBM, Oracle or Alfresco, Nuxeo’s product allows for the the management of all digital content – images, videos, documents, etc.

The company also integrated OpenSocial capabilities in the fall of last year. With three product packages (document management, digital asset management and an enterprise platform), it currently addresses four key sectors, including construction, media, administration and life sciences.

This round of funding will primarily go towards the acceleration of Nuxeo’s partner program, Nuxeo Galaxy, in which the company plans to co-develop applications built on Nuxeo EP with some of their partners. For example, Carnegie Technology Associates (CTA) based in San Diego, California, recently used Nuxeo EP to develop an application for the life sciences sector – and the two companies now plan to work together to ensure that this application can fully address the needs of companies in the medical, biotech and pharmaceutical industries.

And it’s not a coincidence that Carnegie Technology Associates is based in the US – the company’s expanded its 50 person team into the US in February of last year and the American market accounts for roughly 30% of all sales. Nuxeo’s international headcount also includes staff in Russia, Italy, Spain and the United Arab Emirates.