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KEYFILE RAISES $3.7 MILLION IN THIRD-ROUND VENTURE CAPITAL FUNDING

    KEYFILE RAISES $3.7 MILLION IN THIRD-ROUND VENTURE CAPITAL FUNDING
    BOSTON, Nov. 1 /PRNewswire/ -- Keyfile Corporation, a privately held developer of microcomputer software, today announced it has completed a third round of venture capital funding totalling $3.7 million.
    The company's first product, called Keyfile, is the first integrated document manager that lets users file, retrieve, share, and distribute tens of thousands of paper and electronic documents using standard PCs, networks, mass storage devices, scanners, and fax boards. Keyfile was announced on Sept. 24 and is currently shipping.
    Venture capital investors include:  Hambro International Venture Fund, Boston; PR Venture Partners, Boston; TVM Techno Venture Management, Boston; Venture Founders Corporation, Lexington, Mass; Battery Ventures, Boston; and North Atlantic Capital Corporation, Burlington, Vt.  Keyfile has previously received $5 million in private financing, bringing the total capital investment to nearly $9 million.
    "Keyfile's new software has received overwhelmingly positive response from industry analysts and the press," said Keyfile President James Stenzel.  "This latest round of financing is particularly important because it will enable us to complete our distribution channel network and bolster Keyfile's marketing and sales effort.  Our software extends the usefulness of the PC in daily business work.  With its flexibility and ease of use, Keyfile will attract unprecedented numbers of new people into the PC fold."
    Keyfile's new software has already undergone extensive preliminary evaluation by several large corporate users.  Sheldon J. Laube, National Director for Information & Technology at Price Waterhouse and an early Keyfile user, states that "Keyfile is the most robust image management system in today's PC LAN environment.  And when we saw Keyfile's workflow capability, we were simply blown away."
    Among the analysts who have seen early versions of the software, Bruce Silver of BIS Strategic Decisions said that "With surprising ease of use, technical sophistication, a jazzy look, and an open programming environment, Keyfile -- from a technical viewpoint -- has it all." New Science Associates' Mary Rhodes adds that "(Keyfile's) price point and add-on potential are designed to revolutionize the low-end market."
    Keyfile Corporation develops and markets full-function, PC-based integrated document management software which is sold exclusively by selected value-added resellers and office automation dealers.  Keyfile was incorporated in March 1989, and is located at 22 Cotton Rd., Nashua, N.H. 03063, telephone: 603-883-3800; fax: 603-889-9259.
    -0-                            11/1/91
    /CONTACT: Mark Templeton of Keyfile Corp., 603-883-3800; or Christopher Morgan for Keyfile Corporation, 617-739-3352/ CO:  Keyfile Corporation ST:  New Hampshire IN:  CPR SU: KM-PB -- NE011 -- 0448 11/01/91 18:00 EST
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Publication:PR Newswire
Date:Nov 1, 1991
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