Adapx , which makes software that digitizes handwritten notes, has raised $9 million in a second round of funding led by new investor UV Partners. Existing investors OVP Venture Partners and Paladin Capital Group also participated in the round. The round brings total funds raised to date to $19 million.
The company's software, named Capturx, records notes by using a digital camera embedded in a pen that transfers the notes to digital files that can be uploaded and then manipulated on a computer. The company's software is compatible with Microsoft (NSDQ: MSFT) Office so notes can be transferred in various formats from the company's software to Word or Excel, for example. The company says it has about 500 customers and targets professionals who do a lot of note-taking on the go, like reporters or construction workers.
By Rory Maher