Lavante, a provider of cloud-based supplier management software, has finalised a USD3.5 million round of investment led by PointGuard Ventures, located in Menlo Park, California.
Prior investors SAP Ventures and ATA Ventures also participated in the financing.
“Lavante is powered by a cutting edge, cloud-based software platform that creates efficiency in enterprise business processes. The new SIM solution augments Lavante’s proven profit recovery solution into a powerful solution for on-boarding suppliers, assuring compliance and improving communications between the customer and their suppliers,” says Krish Panu, managing director of PointGuard Ventures. “Lavante has created a very powerful solution for efficient management of any company’s suppliers with significant cost and time saving benefits to all parties.”
The new funding will enable Lavante to fuel market momentum and growth, invest in new products and accelerate customer acquisition. The announcement follows product enhancements to Lavante’s on-demand supplier management solutions, including recovery auditing and supplier information management, while also expanding the Lavante Supplier Network.
“We are very excited to have PointGuard Ventures join our group of Investors. The additional funding will enable us to continue building great products and attract great customers,” says Joe Flynn, founder and chief strategy officer of Lavante. “We look forward to the addition of Krish Panu to our board and feel that his operating experience in building successful companies will be of significant value as we continue to expand our leadership position in the greater SLM (SupplierLifecycle Management) space.”
