Copanion, Inc., an Andover, MA-based provider of document automation solution, has closed a $10.2m round of venture capital funding, co-lead by Commonwealth Capital Ventures and Pilot House Ventures Group.
The proceeds will fund expansion into new market segments for its SaaS-based document automation solution.
As part of the financing round, Edward Jennings, Copanion’s former SVP of marketing and sales, has assumed the role of CEO. Founder Steven Ladd has stepped down as CEO and moved into an advisory role—responsible for new market development.
As stated by Jennings, the company has aggressive plans to expand its sales and marketing efforts.
“With development of the core technology largely complete, we will now focus on expanding our go-to-market initiatives to increase revenue in the tax market and explore several other markets”, he said.