Nitro Acquires doxIQ to Deepen Analytics Footprint
Here at Nitro, we know there’s a lot more to document productivity than just creating, editing, converting and signing PDF documents. Analytics and insights are essential to unleash the value locked in business documents today. This is why I’m so excited to announce that Nitro has acquired doxIQ.
doxIQ was started last year in Palo Alto, co-founded by CEO Michael Feng and CTO Max Cantor. A graduate of Stanford’s StartX accelerator, the company’s technology has become a popular tool for converting marketing documents into intelligent web assets that boost conversion rates, collect behavioral data and send view alerts. The company won the early stage startup competition at GrowthBeat 2014, VentureBeat’s marketing tech conference. With this acquisition, I’m thrilled that both doxIQ co-founders will be staying on and joining the Nitro team. Mike will be leading our product management team, and Max will lead our research and development team.
For many organizations today, a big problem is that PDF has become a place where document content often goes — never to be found again. Document productivity and workflow is totally broken in the modern enterprise. We have to reinvent it so working with business documents is less painful, more productive, and more intelligent. IDC has estimated that document challenges rob businesses of about one-fifth of their overall productivity. We’re on a mission to transform how the world works with documents, and document analytics are a key part of our strategy.
As we integrate doxIQ’s technology, we will be transitioning doxIQ customers to Nitro Cloud, our document sharing and electronic signature product. Look for more news soon on an upcoming release of Nitro Cloud, which will include new document analytics features like tracking user interactions and time spent on specific document content.
doxIQ saw a huge gap in the market for business document analytics akin to what Google provides for web traffic. Now, as part of Nitro, we will be able to fulfill our shared vision for using machine intelligence to make working with documents more powerful and productive.