Baltimore software firm eOriginal Inc. has raised $26.5 million to expand its digital transactions management business.
The equity round was led by LLR Partners, a Philadelphia-based private equity firm. EOriginal will use the money to grow its staff and bolster product development.
The raise is in response to growing market demand, as companies look to shift more of their business to electronic platforms, said CEO Stephen Bisbee in an interview.
"We are seeing more opportunity in front of us than we're able to execute with our current staff," said CEO Stephen Bisbee.
Founded in 1996, eOriginal specializes in tools for completing and managing digital business transactions, while protecting the security of sensitive information.
The company's products include an electronic signature and an asset management platform that handles the entire life of an electronic transaction. The programs are used in marketplace lending, vehicle and equipment financing, and banking. Nissan, US Bank and Protection1 Security Solutions are among eOriginal's clients.
Based at the Warehouse at Camden Yards, eOriginal expects to employ 72 people by the end of the year and wants to double its staff in 2017.