SUMMIT VENTURES IV LP
SC 13G/A, 1999-02-12
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<PAGE>   1
<TABLE>
<S>                                                             <C>
                                                                      OMB APPROVAL
                                  UNITED STATES                 OMB Number: 3235-0145
                       SECURITIES AND EXCHANGE COMMISSION       Expires:  August 31, 1999
                             WASHINGTON, D.C. 20549             Estimated average burden
                                                                hours per response..14.90
</TABLE>


                                  SCHEDULE 13G


                    UNDER THE SECURITIES EXCHANGE ACT OF 1934
                               (AMENDMENT NO. 1 )*

                                 Omtool, Limited
                                (Name of Issuer)

                          Common Stock, par value $.01
                         (Title of Class of Securities)

                                    681974101
                                 (CUSIP Number)

                               December 31, 1998

             (Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule
is filed:

         / /  Rule 13d-1(b)
         / /  Rule 13d-1(c)
         /X/  Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's
initial filing on this form with respect to the subject class of securities, and
for any subsequent amendment containing information which would alter the
disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed
to be "filed" for the purpose of Section 18 of the Securities Exchange Act of
1934 ("Act") or otherwise subject to the liabilities of that section of the Act
but shall be subject to all other provisions of the Act (however, see the
Notes).


                               Page 1 of 32 Pages
<PAGE>   2
CUSIP NO. 681974101                   13G                     PAGE 2 OF 32 PAGES

- --------------------------------------------------------------------------------
1     NAME OF REPORTING PERSON
      I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

            Summit Ventures IV, L.P.

- --------------------------------------------------------------------------------
2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                                (a) / /
                                                                (b) / /

- --------------------------------------------------------------------------------
3     SEC USE ONLY

- --------------------------------------------------------------------------------
4     CITIZENSHIP OR PLACE OF ORGANIZATION

      Delaware limited partnership

- --------------------------------------------------------------------------------
                  5     SOLE VOTING POWER

                            0 shares
NUMBER OF         --------------------------------------------------------------
SHARES            6     SHARED VOTING POWER
BENEFICIALLY
OWNED BY                    1,698,378 shares
EACH              --------------------------------------------------------------
REPORTING         7     SOLE DISPOSITIVE POWER
PERSON
WITH                        0 shares
                  --------------------------------------------------------------
                  8     SHARED DISPOSITIVE POWER

                            1,698,378 shares

- --------------------------------------------------------------------------------
9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                    1,698,378 shares

- --------------------------------------------------------------------------------
10    CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
11    PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                    13.55%

- --------------------------------------------------------------------------------
12    TYPE OF REPORTING PERSON *

                    PN

- --------------------------------------------------------------------------------
                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 2 of 32 Pages
<PAGE>   3
CUSIP NO. 681974101                   13G                     PAGE 3 OF 32 PAGES


- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Summit Partners IV, L.P.

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                              (a) / /
                                                              (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 Delaware limited partnership

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378  shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 3 of 32 Pages
<PAGE>   4
CUSIP NO. 681974101                   13G                     PAGE 4 OF 32 PAGES


- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Summit Investors III, L.P.

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                           (a) / /
                                                           (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 Delaware limited partnership

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                       / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 4 of 32 Pages
<PAGE>   5
CUSIP NO. 681974101                   13G                     PAGE 5 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Stamps, Woodsum & Co. IV

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                       (a) / /
                                                       (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY


- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 Massachusetts general partnership

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                  / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 PN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 5 of 32 Pages
<PAGE>   6
CUSIP NO. 681974101                   13G                     PAGE 6 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 E. Roe Stamps, IV

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                         (a) / /
                                                         (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 6 of 32 Pages
<PAGE>   7
CUSIP NO. 681974101                   13G                     PAGE 7 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Stephen G. Woodsum

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                          (a) / /
                                                          (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 7 of 32 Pages
<PAGE>   8
CUSIP NO. 681974101                   13G                     PAGE 8 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Gregory M. Avis

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                         (a) / /
                                                         (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                  / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 8 of 32 Pages
<PAGE>   9
CUSIP NO. 681974101                   13G                     PAGE 9 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 John A. Genest

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                          (a) / /
                                                          (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                               Page 9 of 32 Pages
<PAGE>   10
CUSIP NO. 681974101                   13G                    PAGE 10 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Martin J. Mannion
- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                           (a) / /
                                                           (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 10 of 32 Pages
<PAGE>   11
CUSIP NO. 681974101                   13G                    PAGE 11 OF 32 PAGES


- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Bruce R. Evans

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                          (a) / /
                                                          (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                                  / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 11 of 32 Pages
<PAGE>   12
CUSIP NO. 681974101                   13G                    PAGE 12 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Thomas S. Roberts

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                            (a) / /
                                                            (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 12 of 32 Pages
<PAGE>   13
CUSIP NO. 681974101                   13G                    PAGE 13 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Walter G. Kortschak

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                           (a) / /
                                                           (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares
- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN

- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 13 of 32 Pages
<PAGE>   14
CUSIP NO. 681974101                   13G                    PAGE 14 OF 32 PAGES

- --------------------------------------------------------------------------------
  1     NAME OF REPORTING PERSON
        I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)

                 Joseph F. Trustey

- --------------------------------------------------------------------------------
  2     CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP*
                                                          (a) / /
                                                          (b) / /

- --------------------------------------------------------------------------------
  3     SEC USE ONLY

- --------------------------------------------------------------------------------
  4     CITIZENSHIP OR PLACE OF ORGANIZATION

                 United States

- --------------------------------------------------------------------------------
                           5    SOLE VOTING POWER

                                         0 shares
       NUMBER OF           -----------------------------------------------------
         SHARES            6    SHARED VOTING POWER
      BENEFICIALLY
        OWNED BY                         1,698,378 shares
          EACH             -----------------------------------------------------
       REPORTING           7    SOLE DISPOSITIVE POWER
         PERSON
          WITH                           0 shares
                           -----------------------------------------------------
                           8    SHARED DISPOSITIVE POWER

                                         1,698,378 shares

- --------------------------------------------------------------------------------
  9     AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

                 1,698,378 shares

- --------------------------------------------------------------------------------
 10     CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*

                                             / /

- --------------------------------------------------------------------------------
 11     PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9

                 13.55%

- --------------------------------------------------------------------------------
 12     TYPE OF REPORTING PERSON *

                 IN
- --------------------------------------------------------------------------------

                      *SEE INSTRUCTIONS BEFORE FILLING OUT!


                              Page 14 of 32 Pages
<PAGE>   15
                                  Schedule 13G


Item 1(a).        Name of Issuer:  Omtool, Limited

Item 1(b).        Address of Issuer's Principal Executive Offices: 8 Industrial
                  Way, Salem, NH, 03079.

Item 2(a).        Names of Persons Filing: Summit Ventures IV, L.P., Summit
                  Partners IV, L.P., Summit Investors III, L.P., Stamps, Woodsum
                  & Co. IV and Messrs. E. Roe Stamps, IV, Stephen G. Woodsum,
                  Gregory M. Avis, John A. Genest, Martin J. Mannion, Bruce R.
                  Evans, Thomas S. Roberts, Walter G. Kortschak and Joseph F.
                  Trustey.

                  Summit Partners IV, L.P. is the sole general partner of Summit
                  Ventures IV, L.P. Stamps, Woodsum & Co. IV is the sole general
                  partner of Summit Partners IV, L.P. Messrs. Stamps, Woodsum,
                  Avis, Genest, Mannion, Evans, Roberts, Kortschak, and Trustey
                  are individual general partners of Stamps, Woodsum & Co. IV
                  and Summit Investors III, L.P.

                  As of December 31, 1998, Ernest K. Jacquet was no longer 
                  affiliated with any of the "Entities" (as defined below).

Item 2(b).        Address of Principal Business Office or, if None, Residence:
                  The address of the principal business office of Summit
                  Ventures IV, L.P., Summit Partners IV, L.P., Summit Investors
                  III, L.P., Stamps, Woodsum & Co. IV and Messrs. Stamps,
                  Woodsum, Mannion, Genest, Evans, Roberts and Trustey is Summit
                  Partners, 600 Atlantic Avenue, Boston, Massachusetts 02210.
                  The address of the principal business office of Messrs. Avis
                  and Kortschak is Summit Partners, 499 Hamilton Avenue, Palo
                  Alto, California 94301.

Item 2(c).        Citizenship: Each of Summit Ventures IV, L.P., Summit Partners
                  IV, L.P. and Summit Investors III, L.P. is a limited
                  partnership organized under the laws of the State of Delaware.
                  Stamps, Woodsum & Co. IV is a general partnership organized
                  under the laws of the Commonwealth of Massachusetts. Each of
                  Messrs. Stamps, Woodsum, Avis, Mannion, Genest, Evans,
                  Roberts, Kortschak and Trustey is a United States citizen.

Item 2(d).        Title of Class of Securities: Common Stock, par value $.01

Item 2(e).        CUSIP Number:  681974101

Item 3.           If this statement is filed pursuant to Rules 13d-1(b), or
                  13d-2(b), check whether the person filing is a:


                              Page 15 of 32 Pages
<PAGE>   16
                  Not Applicable.

Item 4.           Ownership.
                  (a)   Amount Beneficially Owned:

                        Each of Summit Ventures IV, L.P., Summit Partners IV,
                        L.P., Stamps, Woodsum & Co. IV, and Summit Investors
                        III, L.P. (individually an "Entity" and collectively the
                        "Entities") may be deemed to own beneficially 1,698,378
                        shares of Common Stock as of December 31, 1998. Each of
                        Messrs. Stamps, Woodsum, Avis, Mannion, Genest, Evans,
                        Roberts, Kortschak and Trustey may be deemed to own
                        beneficially 1,698,378 shares of Common Stock as of
                        December 31, 1998.

                        As of December 31, 1998, Summit Ventures IV, L.P. was
                        the record holder of 1,609,966 shares of Common Stock.
                        As of December 31, 1998 Summit Investors III, L.P. was
                        the record holder of 88,412 shares of Common Stock. The
                        shares held of record by Summit Ventures IV, L.P. and
                        Summit Investors III, L.P. are referred to herein
                        collectively as the "Record Shares." By virtue of the
                        affiliate relationships among the Entities, each Entity
                        may be deemed to own beneficially all of the Record
                        Shares. Hence, each Entity may be deemed to own
                        beneficially 1,698,378 shares of Common Stock. In their
                        capacities as individual general partners of Stamps,
                        Woodsum & Co. IV and Summit Investors III, L.P. each of
                        Messrs. Stamps, Woodsum, Avis, Mannion, Genest, Evans,
                        Roberts, Kortschak and Trustey may be deemed to own
                        beneficially 1,698,378 shares of Common Stock.

                        Each of the reporting persons expressly disclaims 
                        beneficial ownership of any shares of Common Stock of
                        Omtool, Limited except in the case of Summit Ventures
                        IV, L.P., for the 1,609,966 shares which it holds of
                        record, and in the case of Summit Investors III, L.P.,
                        for the 88,412 shares which it holds of record.

      (b) Percent of Class:

                        Summit Ventures IV, L.P.: 13.55%
                        Summit Partners IV, L.P.: 13.55%
                        Stamps, Woodsum & Co. IV: 13.55%
                        Summit Investors III, L.P.: 13.55%
                        E. Roe Stamps, IV: 13.55%
                        Stephen G. Woodsum: 13.55%
                        Martin J. Mannion: 13.55%


                              Page 16 of 32 Pages
<PAGE>   17
                        John A. Genest: 13.55%
                        Gregory M. Avis: 13.55%
                        Bruce R. Evans: 13.55%
                        Walter G. Kortschak: 13.55%
                        Thomas S. Roberts: 13.55%
                        Joseph F. Trustey: 13.55%

                        The foregoing percentages are calculated based on the
                        12,537,032 shares of Common Stock reported to be
                        outstanding in a Form 10-Q for the quarterly period
                        ended September 30, 1998.

      (c)               Number of shares as to which such person has:

                        (i)    sole power to vote or to direct the vote:

                               0 shares for each reporting person

                        (ii)   shared power to vote or to direct the vote:

                  Summit Ventures IV, L.P.: 1,698,378 shares
                  Summit Partners IV, L.P.: 1,698,378 shares
                  Stamps, Woodsum & Co. IV: 1,698,378 shares
                  Summit Investors III, L.P.: 1,698,378 shares
                  E. Roe Stamps, IV: 1,698,378 shares
                  Stephen G. Woodsum: 1,698,378 shares
                  Martin J. Mannion: 1,698,378 shares
                  John A. Genest: 1,698,378 shares
                  Gregory M. Avis: 1,698,378 shares
                  Bruce R. Evans: 1,698,378 shares
                  Walter G. Kortschak: 1,698,378 shares
                  Thomas S. Roberts: 1,698,378 shares
                  Joseph F. Trustey: 1,698,378 shares

                  (iii) sole power to dispose or direct the disposition of:

                        0 shares for each reporting person

                  (iv) shared power to dispose or direct the disposition of:

                                    Summit Ventures IV, L.P.: 1,698,378 shares
                                    Summit Partners IV, L.P.: 1,698,378 shares
                                    Stamps, Woodsum & Co. IV: 1,698,378 shares
                                    Summit Investors III, L.P.: 1,698,378 shares
                                    E. Roe Stamps, IV: 1,698,378 shares
                                    Stephen G. Woodsum: 1,698,378 shares


                              Page 17 of 32 Pages
<PAGE>   18
                                    Martin J. Mannion: 1,698,378 shares
                                    John A. Genest: 1,698,378 shares
                                    Gregory M. Avis: 1,698,378 shares
                                    Bruce R. Evans: 1,698,378 shares
                                    Walter G. Kortschak: 1,698,378 shares
                                    Thomas S. Roberts: 1,698,378 shares
                                    Joseph F. Trustey: 1,698,378 shares

Item 5.           Ownership of Five Percent or Less of a Class.

                  Not Applicable

Item 6.           Ownership of More than Five Percent on Behalf of Another
                  Person.

                  Not Applicable.

Item 7.           Identification and Classification of the Subsidiary which
                  Acquired the Security Being Reported on By the Parent Holding
                  Company.

                  Not Applicable.

Item 8.           Identification and Classification of Members of the Group.

                  Not Applicable. The reporting persons expressly disclaim
                  membership in a "group" as defined in Rule 13d-1(b)(ii)(H).

Item 9.           Notice of Dissolution of Group.

                  Not Applicable.

Item 10.          Certification.

                  Not Applicable. This statement on Schedule 13G is not filed
                  pursuant to Rule 13d-1(b).


                              Page 18 of 32 Pages
<PAGE>   19
                                   SIGNATURES

      After reasonable inquiry and to the best of our knowledge and belief, we
certify that the information set forth in this statement is true, complete and
correct. We also hereby agree to file this statement jointly pursuant to the
Agreement listed on Exhibit 1 hereto.

Dated:  February 9, 1999

SUMMIT VENTURES IV, L.P.                               *
                                              -----------------------
                                              E. Roe Stamps, IV
By:   Summit Partners IV, L.P.

By:   Stamps, Woodsum & Co. IV                         *
                                              -----------------------
                                              Stephen G. Woodsum

      By:        *
          -----------------------
          E. Roe Stamps, IV                            *
          General Partner                     -----------------------
                                              Gregory M. Avis

SUMMIT INVESTORS III, L.P.
                                                       *
                                              -----------------------
                                              Martin J. Mannion

By: /s/ John A. Genest
    -----------------------
    General Partner                           /s/ John A. Genest
                                              -----------------------
                                              John A. Genest

SUMMIT PARTNERS IV, L.P.
                                              
                                                       *
                                              -----------------------
By: Stamps, Woodsum & Co. IV                  Bruce R. Evans

                                              
                                                       *
                                              -----------------------
      By:        *                            Walter G. Kortschak
          -----------------------
          E. Roe Stamps
          General Partner                              *
                                              -----------------------
                                              Thomas S. Roberts

STAMPS, WOODSUM & CO. IV
                                              
                                              
                                              
By:        *
    -----------------------
    E. Roe Stamps
    General Partner


                              Page 19 of 32 Pages
<PAGE>   20
                                                        *
                                              -----------------------
                                              Joseph F. Trustey


                                              *By: /s/ John A. Genest
                                                   ------------------
                                                   John A. Genest,
                                                   Attorney-in-Fact


* Pursuant to Powers of Attorney on file with the Commission, which Powers of
Attorney are incorporated herein by reference. Copies of such Powers of Attorney
are attached hereto as Exhibit 2.


                              Page 20 of 32 Pages

<PAGE>   1
                                                                       Exhibit 1

                                    AGREEMENT

      Pursuant to Rule 13d-1(f)(1) under the Securities Exchange Act of 1934,
the undersigned hereby agree that only one statement containing the information
required by Schedule 13G need be filed with respect to the ownership by each of
the undersigned of shares of Common Stock of Omtool, Limited.

      This agreement may be executed in any number of counterparts, each of
which shall be deemed an original.

      EXECUTED this 9th day of February, 1999.

SUMMIT VENTURES IV, L.P.                                      *
                                                     -----------------
                                                     E. Roe Stamps, IV
By:   Summit Partners IV, L.P.

By:   Stamps, Woodsum & Co. IV                                *
                                                     -------------------
                                                     Stephen G. Woodsum

      By:            *
              -----------------
              E. Roe Stamps, IV                               *
              General Partner                        -------------------
                                                     Gregory M. Avis

SUMMIT INVESTORS III, L.P.
                                                              *
                                                     -------------------
                                                     Martin J. Mannion
By:   /s/ John A. Genest
      ------------------
      General Partner
                                                     /s/ John A. Genest
                                                     -------------------
SUMMIT PARTNERS IV, L.P.                             John A. Genest

By:   Stamps, Woodsum & Co. IV
                                                              *
                                                     -------------------
                                                     Bruce R. Evans
      By:            *
              -----------------
              E. Roe Stamps, IV
              General Partner                                 *
                                                     -------------------
                                                     Walter G. Kortschak

                                                     
                                                     
                                                     

STAMPS, WOODSUM & CO. IV

By:                 *
      -----------------
      E. Roe Stamps, IV
      General Partner


                              Page 21 of 32 Pages
<PAGE>   2

                                                          *
                                                 -----------------
                                                 Thomas S. Roberts

                                                          *
                                                 -----------------
                                                 Joseph F. Trustey


                                             *By:  /S/ John A. Genest
                                                  --------------------
                                                      John A. Genest,
                                                      Attorney-in-Fact


- ----------
*     Pursuant to Powers of Attorney on file with the Commission, which Powers
      of Attorney are incorporated herein by reference. Copies of such Powers of
      Attorney are attached hereto as Exhibit 2.


                              Page 22 of 32 Pages

<PAGE>   1
                                                                       Exhibit 2

                                POWER OF ATTORNEY


         KNOW ALL MEN BY THESE PRESENTS, that each person whose signature
appears below hereby constitutes and appoints each and any of E. Roe Stamps, IV,
Stephen G. Woodsum and John A. Genest his true and lawful attorney-in-fact and
agent, with full power of substitution and resubstitution, for him and in his
name, place and stead, in any and all capacities (until revoked in writing) to
sign any and all instruments, certificates and documents required to be executed
on behalf of himself individually or on behalf of each or any of Summit
Ventures, L.P., Summit Partners, L.P., Stamps, Woodsum & Co., Summit Partners'
Holdings, L.P., Summit Ventures II, L.P., Summit Partners II, L.P., Stamps,
Woodsum & Co. II, SV Eurofund C.V., SV International, L.P., Stamps, Woodsum
International & Co., Summit Investors, L.P., Summit Investors II, L.P., Summit
Investors III, L.P., Summit Ventures III, L.P., Summit Partners III, L.P.,
Stamps, Woodsum & Co. III, Summit Ventures IV, L.P., Summit Partners IV, L.P.,
Stamps, Woodsum & Co., IV, Summit Subordinated Debt Fund, L.P., Summit Partners
SD, L.P., SW Management Corp., Summit Management Co., Summit Subordinated Debt
Fund II, L.P., and Summit Partners SD II, LLC, pursuant to sections 13 and 16 of
the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any
and all regulations promulgated thereunder, and to file the same, with all
exhibits thereto, and any other documents in connection therewith, with the
Securities and Exchange Commission, and with any other entity when and if such
is mandated by the Exchange Act or by the By-laws of the National Association of
Securities Dealers, granting unto said attorney-in-fact and agent full power and
authority to do and perform each and every act and thing requisite and necessary
fully to all intents and purposes as she might or could do in person thereby
ratifying and confirming all that said attorney-in-fact and agent, or her
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.


                              Page 23 of 32 Pages
<PAGE>   2
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/  E. Roe Stamps, IV
                                                     ----------------------
                                                     E. Roe Stamps, IV

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came E. Roe
Stamps, IV, known to me to be the person described and who executed the
foregoing instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 24 of 32 Pages
<PAGE>   3
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/  Stephen G. Woodsum
                                                     -----------------------
                                                     Stephen G. Woodsum

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came Stephen
G. Woodsum, known to me to be the person described and who executed the
foregoing instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 25 of 32 Pages
<PAGE>   4
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/  Martin J. Mannion
                                                     ----------------------
                                                     Martin J. Mannion

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came Martin J.
Mannion, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 26 of 32 Pages
<PAGE>   5
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/  John A. Genest
                                                     -------------------
                                                     John A. Genest

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came John A.
Genest, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 27 of 32 Pages
<PAGE>   6
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/ Gregory M. Avis
                                                     -------------------
                                                     Gregory M. Avis

State of California                         )
                                            ) ss:
County of Santa Clara                       )

         On this 3rd day of February, 1997, before me personally came Stephen G.
Woodsum, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Katherine C. Ely
                              ----------------------------------
                              Notary Public


                              My Commission expires: May 28, 2000


                              Page 28 of 32 Pages
<PAGE>   7
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/ Thomas S. Roberts
                                                     ---------------------
                                                     Thomas S. Roberts

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came Thomas S.
Roberts, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 29 of 32 Pages
<PAGE>   8
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/ Bruce R. Evans
                                                     ------------------
                                                     Bruce R. Evans

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came Bruce R.
Evans, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 30 of 32 Pages
<PAGE>   9
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/ Walter G. Kortschak
                                                     -----------------------
                                                     Walter G. Kortschak

State of California                         )
                                            ) ss:
County of Santa Clara                       )

         On this 3rd day of February, 1997, before me personally came Walter G.
Kortschak, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Katherine C. Ely
                              ----------------------------------
                              Notary Public


                              My Commission expires: May 28, 2000


                              Page 31 of 32 Pages
<PAGE>   10
         IN WITNESS WHEREOF, this Power of Attorney has been signed as of the
10th day of February, 1997.


                                                     /s/ Joseph F. Trustey
                                                     ---------------------
                                                     Joseph F. Trustey

Commonwealth of Massachusetts       )
                                    ) ss:
County of Suffolk                   )

         On this 10th day of February, 1997, before me personally came Joseph F.
Trustey, known to me to be the person described and who executed the foregoing
instrument that he acknowledged that he executed the same.

[Notary Seal]
                              /s/ Cynthia R. Freidman
                              --------------------------------------
                              Notary Public


                              My Commission expires: October 20, 2000


                              Page 32 of 32 Pages


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