Aravo Solutions, Inc., a San Francisco, CA-based developer of supplier information management (SIM) products, announced that it has closed a $27m Series D financing round bringing the total amount raised by the company to $50m.
The round was led by new strategic investor Cisco with participation from exisiting investors Charles Schwab/Big Sky Partners (Chairman, Charles Schwab Corporation) and Stephen Friedman (former Chairman, Goldman Sachs).
Other new investors, including William Harrison (former CEO/Chairman, JP Morgan Chase), also participated in the round.
In conjunction with the financing, Aravo announced that Cisco WebEx technologies will be integrated with Aravo Supplier Information Management (SIM) to facilitate real-time collaboration between buyers and suppliers.
The funds will be used to develop new products and to expand sales, marketing, and delivery capacity. A series of product roadmap announcements are scheduled for early 2010 and will include new products and services focused on the enterprise supplier collaboration (ESC) market.
The company has offices in New York, Portland, Boston, Chicago, and Ahmedabad, India.