Later this morning, Aravo will announce that it has closed on its latest round of funding. For observers of our industry, this should provide significant validation that the demand for innovative procurement and supply-chain software remains healthy. Moreover, both the size of the round ($27 million) and the cache of the lead investor (Cisco) suggest that the growth prospects for at least one area of the Spend Management world might be significantly larger than many initially thought. The fact that the funding round happened in this environment, where large amounts of venture money are hard to come by at fast-growth start-up technology valuations, makes the investment and what it represents even more impressive. Altogether, Aravo has now raised $50 million in venture funding.
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- Cisco Leads $27 Million Round For Aravo (techcrunch.com)