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Brier Dudley offers a critical look at technology and business issues affecting the Northwest.

May 20, 2011 at 10:18 AM

Adapx inks $5 million

Seattle’s Adapx, which produces digital pen technology, announced today that it raised $5 million and now has more than 800 customers

Adapx will use the money to build new products and expand a line of products used by the military for command and control operations. These products help intelligence, surveillance and reconaissance teams input data into digital maps and other systems by sketching on paper or touchscreens or speaking as they sketch on wall displays, the release said.

Altogether the 49-person company has now raised $24 million, including a stake taken by the CIA in 2006.

Venture capitalists are betting that Adapx is getting its stride providing software that enterprise customers use to get notes taken with digital pens into applications such as SharePoint, Office and CRM systems.

Chad Waite, general partner at OVP Venture Partners, said in a release that the company’s Capturx line of products has seen “record growth in customers ranging from utilities and oil and gas firms to inspectors and insurance providers.”

OVP, Paladin Capital Group and Pelion Venture Partners provided the new funding, upping their previous stake in Adapx.

Comments | More in | Topics: Enterprise, Entrepreneurs, VC

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