The Business Growth Fund and Scottish Equity Partners have teamed up to invest £20m (€25m) in SkyDox, a provider of cloud-enabled document collaboration software for the enterprise sector.
Founded in 2009, SkyDox enables users to keep large quantities of sensitive information secure, share files and collaborate efficiently on content. The company handles information for clients that include the NHS, PwC and the European Court of Human Rights.
The investment will enable the company to join forces with Workshare, a document comparison and policy management business.
Workshare was established in 1999 and works with professional services firms in 70 countries.
The market for online content storage and collaboration software is projected by technology consultancy firm Gartner to grow to $8bn by 2014.