Vuzit Announces Additional Angel Funding

Philly-based Vuzit has announced a new round of angel funding today. The round was lead by Robin Hood Ventures and Innovation Philadelphia, and Ben Franklin Technology Partners of Southeastern Pennsylvania also participated. The company notes that they will use the new funding to enhance its sales and marketing efforts as well as to patent their proprietary document technology.

We initially covered Vuzit when they presented at the DreamIT demo day last September.

Vuzit won the "Most Innovative Product or Service" from the Ben Franklin Emerging Business Awards competition earlier this year. I spoke with Vuzit co-founder Chris Cera who told me about some deals they are working on currently. I can’t share the details yet but the visibility from the deals should be large.

Unlike Scribd and Docstoc, Vuzit isn’t focusing on advertising so they aren’t pushing the content into the social services and working the SEO angle. Vuzit is focusing on the enterprise market and the security side of online document sharing. Vuzit offers a freemium model with prices ranging from free to $59.99/month.

They also note, "With Vuzit’s plans of a future document control system supporting Sarbanes-Oxley and HIPPA privacy requirements, Vuzit is primed to extend their current success into a whole new market."