Confidela, a Mountain View, Calif.-based developer of WatchDox, a document control, tracking and protection solution, raised $9.25M in a Series B funding.
The round was led by new investors Shasta Ventures, with participation from existing investors Gemini Israel Funds and Shlomo Kramer (co-founder of Check Point and Imperva).
The company, which will also rebrand under the name of WatchDox, intends to use the new capital to expand product capabilities, as well as its sales team to secure new customers and larger deals. The solution is currently used by thousands of organizations in the financial services, pharmaceutical, biotechnology, legal, energy, manufacturing, insurance and government markets.
Led by CEO Moti Rafalin, WatchDox has developed a software-as-a-service (SaaS) document lifecycle protection technology, which is applied to documents, embedding protections into files. It enables users to share and collaborate on documents while preventing leakage by restricting copying, printing and forwarding of documents.