Monday, July 30, 2012

Adapx Raises $3M More

Seattle-based Adapx, the developer of digital capture and recognition software, announced this morning that it has raised $3M more in funding from its existing investors. The firm said the round, which brings its total raised to approximately $32M, came from OVP Venture Partners, Paladin Capital Group, Pelion Ventures, and Northwest Tech Ventures. As part of the funding, the firm said it has added General Peter W. Chiarelli, the recently retired 32nd Vice Chief of Staff of the U.S. Army, to its board of directors. The company said the funding will go to accelerate development of new software, and to fund entry into new markets for the company. Adapx, led by Ken Schneider, develops software to capture speech, handwriting, and drawings into data usable in software applications. More information »