Aravo Investors Supply $10M In Series C

Enterprise Software       San Francisco

Aravo Investors Supply $10M In Series C

By Staff Reporters         8/2/2007


Aravo Solutions Inc. plans to open more regional sales and delivery offices and launch new products after closing a $10 million venture capital round.

All prior lead investors returned in the Series C round, including Charles Schwab Family/Big Sky Partners, Art Samberg of Pequot Capital and Tony Mayer formerly of JP Morgan Capital. The company to date has raised $22 million.

Retired Goldman Sachs Chairman Stephen Friedman, LundKenner Managing Partner Soren Kenner and private equity executives were the new investors in the round. Other shareholders in the company include Chess Ventures, Wilson Sonsini Ventures and Angels Forum/Halo Fund LLC, according to Aravo’s Web site.

Headquartered in San Francisco, Aravo produces Supplier Information Management software and services. Among its clients: Oracle, Novartis and the states of Florida and North Carolina.

Avaro spokesman Chris Greenfield said the company does not discuss revenue, earnings, valuation or cash burn rate figures.

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