Conga, a document automation developer, has acquired web-based document platform Octiv.
The acquisition will enhance Conga’s offering suite, including the ability for clients to create, collaborate and manage documents and managing its engagement.
Octiv streamlines document workflows across sales, legal and information technology industries. The technology enables clients to create, share, sign, store, analyse and manage proposals, invoices, quotes and contracts.
Using the technology, a client can create and track digital invoices, which can integrate with CRM systems, for standard, prepayment, past due or other invoices. Invoices also support digital payments from desktops or mobiles to speed up payments.
Colorado-headquartered Conga builds document automation solutions to help businesses improve CRM investments. Services include document generation, contract management, e-signatures, data management, and report generation.
Conga CEO Matthew Schiltz said, “Octiv’s solution strategically complements the Conga Suite. It will power Conga customers who generate web-based documents to even greater success, while expanding our document and contract management user base.”
Octiv previously secured $4.75m through a funding round in 2016. Greycroft Partners, High Alpha Capital, and Allos Partners supplied the capital to support the company’s growth and go-to-market strategy.
North America has dominated the invoice sub-sector of the infrastructure and enterprise software space, with it receiving $519m last year which is 98 per cent of the total capital injected in the area.
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