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Koral, Inc.

Product Name

Koral

Market Segment

Enterprise software and services

Funding

Series A: Venture funding, $2.5 million

Competitors

Documentum, Opentext, Filenet, Hummingbird

Product Description

Designed by three serial document management entrepreneurs, Koral is an enterprise content management (ECM) solution for the business Web. Currently 80% of corporate data lives in unstructured documents, yet only 18% of ECM licenses are actually used. Koral is an alternate solution designed for end users overwhelmed with content in email, folders or corporate LANS, who need a better solution to share content with a sales force, partners, customers or collaborators.

Market Opportunity

Gartner Group and IDC estimate that the enterprise content management and collaboration markets are at $2.2 billion and growing at 10% and 17% respectively. The market is dominated by expensive ($1,500 per license) solutions targeting niche usage. Koral is going after the 82% of users with no current solution, at a disruptive price point.

Demo Says

Between enterprise document management systems and web-based file-sharing services, there is a gaping hole in the market that is ready to be filled by a lightweight, document-capable, user-focused content management system. Leveraging its experience in enterprise-class document management and service-based software, Koral bridges that gap with an offering that spans from an individual’s file-distribution needs to a work group’s robust content-processing requirements. As importantly, Koral approaches the market with a clear path to move from a free consumer-facing application to enterprise work group site licensing.