Aravo Raises $7 Million Series D Following World's Largest Single SAAS Deployment

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Daily Crunch: Visualization Edition

Despite the economic downturn, companies that solve real problems are still successfully raising money. Aravo, a SAAS supplier information management tool, announced today that they closed $7 million in Series D funding.

Headaches with managing vendor information–think SalesForce.com for suppliers, rather than prospects–is a very real problem. Last summer, I worked in supply chain at a small manufacturer, and I remember calling over a hundred suppliers to get e-mail addresses. (Those addresses were never transferred into our ERP system.)

Currently, Aravo claims their GE installation is the largest single SAAS deployment. “We are now managing over 500,000 suppliers and their data in Aravo, and have just gone live in six languages,” said Gary Reiner, CIO of GE.

Aravo’s software hooks directly into SAP & Oracle, and includes options to track ISO certifications, sustainability initiatives, and risk analysis.

Given the cost-cutting emphasis in supply chain, it’s no wonder Aravo continues to grow during a downturn. Surprisingly they do not expect to be profitable until 2010. CEO Tim Albinson told me this latest financing round provided the runway to emphasize growth over profits, and they plan to double in 2009.

Aravo has raised $30 million so far–almost exclusively from individual
investors, with the majority of the firm’s Series A, B, and C investors participating in the Series D
round. The round was lead by Charles Schwab/Big Sky Partners, who made their fourth
investment in the company. Other investors in this round included Stephen Friedman (Retired
Chairman, Goldman Sachs) Tony Mayer (Former CEO, JP Morgan Capital), and a syndicate of
senior partners and C‐level executives from Goldman Sachs and Morgan Stanley. A second close on the round is planned for mid January.

  • http://www.johnpadams.com JP Adamsst,

    Great Post Jeff! I’m currently working in a SaaS company and its great to see that the industry is growing by pitching cost savings and transparency during these challenging time.

    Be

  • http://www.johnpadams.com JP Adams

    Best,
    JP

  • http://youtechno.info Mike

    However much there is an economic downturn, real problems have to be solved at whatever cost no matter what and businesses that solve these problems will make profits even during the worst recession. http://www.nichea.info has been at the center of this as well as offering advice on how to shield personal finances from the present financial meltdowns.

    http://www.nichea.info

  • http://techmediums.com/2008/04/28/video-games-netflix-amazon%E2%80%A6recession-proof/ Sekou (Koe) Murphy

    When you can show that for $1, you can save $2, cost saving apps are ones that are the best to sell in a recession. There’s a couple of companies out there…one that comes to mind is http://www.RiverMine.com.

    I used to think that video games, netflix and amazon were recession proof. Well, 2 outta 3 ain’t bad. http://techmediums.com/2008/04/28/video-games-netflix-amazon%E2%80%A6recession-proof/

  • http://startupmeme.com/aravo-raises-7m-in-series-d-funding-round/ Aravo Raises $7M in Series D Funding round | Startup Meme - Technology Startup and Latest Tech News

    […] in its Series D round of funding today. The round was led by Charles Schwab and Big Sky Partners, including others. Aravo claims that their GE installation is the largest single SAAS deployment, as the CIO of GE […]

  • http://www.nextmediaupdate.com/?p=335 December 16, 2008 | next media update

    […] Aravo Raises $7 Million Series D Following World’s Largest Single SAAS Deployment TECH CRUNCH Aravo, a SAAS supplier information management tool, announced today that they closed $7 million in Series D funding. Currently, Aravo claims their GE installation is the largest single SAAS deployment. “We are now managing over 500,000 suppliers and their data in Aravo, and have just gone live in six languages,” said Gary Reiner, CIO of GE. Aravo’s software hooks directly into SAP & Oracle, and includes options to track ISO certifications, sustainability initiatives, and risk analysis. Given the cost-cutting emphasis in supply chain, it’s no wonder Aravo continues to grow during a downturn. Surprisingly they do not expect to be profitable until 2010. Source> […]

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    […] latest investment brings Aravo’s total funding to $50 million. Investors that participated in the latest round include Big Sky Partners, Stephen […]

  • http://www.techcrunch.com/2009/12/01/cisco-leads-27-million-round-for-aravo/ Cisco Leads $27 Million Round For Aravo

    […] latest investment brings Aravo’s total funding to $50 million. Investors that participated in the latest round include Big Sky Partners, Stephen […]

  • http://www.mash123.com/news/cisco-leads-27-million-round-for-aravo/ Mash123 » Cisco Leads $27 Million Round For Aravo

    […] latest investment brings Aravo’&#115&#32&#116otal funding to $50 million. Investors that partic&#105&#112&#97ted in the latest round include Big Sky […]

  • http://www.sowmo.com/mobile/cisco-leads-27-million-round-for-aravo/1684 Cisco Leads $27 Million Round For Aravo | qface & sowmo sky

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    […] latest investment brings Aravo’s total funding to $50 million. Investors that participated in the latest round include Big Sky Partners, Stephen […]

  • http://broad-bandwith.prestigious-hosting.com/2009/12/02/cisco-leads-27-million-round-for-aravo/ Cisco Leads $27 Million Round For Aravo | Internet Solutions

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  • http://blog.theunical.com/featured/cisco-leads-27-million-round-for-aravo/ Cisco Leads $27 Million Round For Aravo | TheUnical Technologies Blog

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  • http://TelecomExpenseManagement.com John Baker

    Tim Albinson, Aravo’s founder has done an incredible job growing the company since this round.

    I was a fly on the wall during the round talks years ago and I was very impressed with how he handled himself.

    We’ve been in talks trying to get them to consider letting us handle their telecom expense needs. I’m new to company, Telecom Expense Management but I’m impressed with the savings we can generate for companies with large communication costs.

    Not sure what video games has to do with this news article, after reading that last post – very odd.

    John

  • http://TelecomExpenseManagement.com Telecom Expense Management

    Shoot – my comment messed up. Here it is again –

    Tim Albinson, Aravo’s founder has done an incredible job growing the company since this round.

    I was a fly on the wall during the round talks years ago and I was very impressed with how he handled himself.

    We’ve been in talks trying to get them to consider letting us handle their telecom expense needs. I’m new to company, http://TelecomExpense Management.com but I’m impressed with the savings we can generate for companies with large communication costs.

    Not sure what video games has to do with this news article, after reading that last post – very odd.

    John

  • http://TelecomExpenseManagement.com Telecom Expense Management

    Tim Albinson, Aravo’s founder has done an incredible job growing the company since this round.

    I was a fly on the wall during the round talks years ago and I was very impressed with how he handled himself.

    We’ve been in talks trying to get them to consider letting us handle their telecom expense needs. I’m new to company, http://TelecomExpenseManagement.com but I’m impressed with the savings we can generate for companies with large communication costs.

    Not sure what video games has to do with this news article, after reading that last post – very odd.

    John

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