Wednesday, February 9, 2011

Docufide Raises $4.5M, Taps Blackboard Founder As CEO

Los Angeles-based Docufide, which develops educational software and services used to transfer high school transcripts to colleges, said today that it has raised $4.5M in a funding round, and also appointed Blackboard founder Matthew Pittinsky as its CEO. The firm said the funding came from Novak Biddle Venture Partners. Along with the funding, the firm said it would move its headquarters to Scottsdale, Arizona, where Pittinsky was most recently serving as associate professor of sociology at Arizona State University. Docufide said it will maintain its Los Angeles offices. The firm did not say if prior investors AltoTech Ventures, Pasadena Angels, and the Tech Coast Angels participated in the funding. Earlier in the week, a regulatory filing indicated a firm named Parchment, related to Docufide, raised the funding round; it's likely the firm is prepping a corporate name change. Current CEO John Reese becomes Executive Chairman of the company.

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