Docupace Raises $16.5M

Los Angeles-based Docupace, a developer of software for financial services firms, said this morning that it has raised $16.5M in a funding round from Palisades Growth Capital and TVC Capital. As part of the funding, Paul D'Addario from Palisades and Jeb Spencer from TVC Capital will join the company's board of directors. Docupace develops a suite of products, including cyber security services, alternative investment processing, and paperless processing software and services for financial services firms. The company is led by founder and CEO Michael Pinsker. According to TVC Capital, a portion of the investment in Docupace went to buying back the minority stake of RCS Capital, which declared bankruptcy earlier this year. Docupace was adviced by Clear Capital Advisors in the deal.