Back to Blog September 22, 2014 in

MEMBER NEWS: Plymouth Venture Partners’ portfolio company DocuSphere Acquired by Tungsten Corporation

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Plymouth Ventures is pleased to announce that PVP II portfolio company DocuSphere has been
acquired by Tungsten Corporation. Based in Perrysburg Ohio, DocuSphere is a leading provider
of accounts payable automation and workflow software.

Tungsten Corporation is a publicly traded company based out of London, England (TUNG: LSE).
The combination of Tungsten’s supplier portal and e‐Invoicing services with DocuSphere’s
workflow and connectivity technology will help companies streamline their accounts payable
functions from receipts of e‐Invoice to payment.

Plymouth Venture’s PVP II originally invested in DocuSphere (also known as Image Integration
Systems) in December of 2010, and the equity investment provided growth capital for
increased sales and marketing activity, along with additional product development.

Mark Horne of Plymouth Ventures commented: “Today’s positive outcome was the result of a
real collaborative effort with management, along with important support from Rocket Ventures
and the State of Ohio. The DocuSphere team was able to create significant value by developing
best in class technology along with an impressive collection of Fortune 500 customers.”

Bradley White, CEO and President of DocuSphere, said, “We are extremely pleased to complete
this sale to Tungsten. By becoming part of the Tungsten Network, we will provide additional
value and services to our customers and greater opportunities for our employees. We
appreciate the partnership with Plymouth and Rocket that enabled us to get to this point, and
Mark Horne’s leadership and experience was critical in getting this combination completed.”

About Plymouth Ventures
Plymouth Ventures is the manager for Plymouth Venture Partners I, Plymouth Venture Partners
II, and Plymouth Venture Partners III. The company has four partners, Mark Horne, Jeff Barry,
Kevin Terrasi, and Evan Ufer. Plymouth was founded by Ian Bund who remains active as a Senior
Advisor. The firm is headquartered in Ann Arbor, Michigan. For more information, please visit
www.plymouthvc.com.