Aravo raises $7M more for supply chain management
Aravo Solutions, which dubs itself Salesforce.com (of the supply chain world), has raised $7 million in a fourth round of venture funding.
The San Francisco company offers software delivered via online subscription in three categories — supply chain, risk management and sustainability (which involves making the supply chain more environmentally friendly). Aravo says its partnership with General Electric — through which GE manages 500,000 suppliers — is the largest single deployment using the software-as-a-service business model.
The new funding was led by Charles Schwab/Big Sky Partners, with participation from Stephen Friedman (retired chairman of Goldman Sachs), Tony Mayer (former chief executive of JP Morgan Capital), and a syndicate of partners and executives from Goldman Sachs and Morgan Stanley. Aravo will hold a second close on this round in January. It has raised a total of $30 million.
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About the Author, Anthony Ha
Anthony is VentureBeat's assistant editor, as well as its reporter on enterprise technology, cloud computing, and tech policy. Before joining VentureBeat in 2008, Anthony worked at the Hollister Free Lance, where he won awards from the California Newspaper Publishers Association for breaking news coverage and writing. He attended Stanford University and now lives in San Francisco. Reach him at anthony@venturebeat.com. You can also follow Anthony on Twitter.