|By Business Wire||
|August 19, 2014 11:50 AM EDT||
Lavante Inc., the leading provider of on-demand SIM (Supplier Information Management) and profit recovery solutions, announced today a $3.5 million round of investment led by PointGuard Ventures, located in Menlo Park, CA. 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,” said 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 multiple quarters of industry leading product enhancements to Lavante’s revolutionary 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,” said 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.”
Lavante is the leader in on-demand supplier management solutions, including recovery audit and supplier information management applications. Built with advanced, patented-pending technology, Lavante delivers to the financial arena a new standard in efficient technology-driven solutions that allow companies to quickly drive dollars to the bottom line, improve supplier communications, and assure high supplier data quality. Lavante solutions are deployed across Fortune 1000 enterprises including the hospitality, retail, entertainment, manufacturing and medical industries. Headquartered in San Jose, California, Lavante is privately held and was founded in 2001. www.lavante.com
About PointGuard Ventures
PointGuard Ventures, founded by Krish Panu and Pete Thomas, both Silicon Valley venture capital veterans with 35 years of venture and operating experience, invests in dynamic new technology companies to create new market opportunities or to solve problems in existing markets more cost effectively. Their venture experience spans over 50 startups, 12 IPOs, and many successful M&A transactions during that period of time. PointGuard’s new fund will invest in companies that combine software, networking, and hardware to provide “technology convergence” solutions to many of today’s markets including Mobile e-Commerce, Cloud Computing, Greentech, Point-of-Care medical, Education, and applied Data Analytics. The fund strategy is to invest in a mix of companies in need of Series A&B funding and in select later stage investments that are based in the US with the potential for early global market entry. http://www.pointguardventures.com
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