Today is an exciting day at Lavante as we announce the close of our Series C funding for $8M led by SAP Ventures. This is celebratory news for Lavante and our customers, as it is a strong validation of our vision of how on-demand technology solutions can advance the recovery auditing and supplier information management markets. According to our new board member Andreas Weiskam, Partner at SAP Ventures:
“Lavante is the leader in technology for recovery auditing. Its unique recovery solution automates the traditionally manual process of vendor statement audits, delivering multiple times the results of traditional approaches to customers in near immediate timeframes.”
Andreas also states, “Lavante’s supplier information management solution, combined with its recovery auditing solution, is the killer application to drive rapid adoption of the Lavante Supplier Network. SAP Ventures sees a massive market opportunity for Lavante.”
This is great validation of our strategy!
The strategic investment will help Lavante continue our market momentum and customer acquisition, as well as accelerate investments into product development. We will continue to grow our ground-breaking on-demand supplier management solutions – including recovery auditing, supplier information management and TIN management and to drive adoption of the Lavante Supplier Network™.
We are excited by the confidence SAP Ventures demonstrates in Lavante’s ability to deliver meaningful technology advancements for the supplier information management and recovery markets.
I welcome your thoughts about this announcement and your ideas about how you feel technology can be applied to the recovery and supplier information management markets. Please send me your ideas, thoughts, questions and comments!
To read the full Lavante press release about this funding announcement, please visit: http://www.lavante.com/news/lavante-series-c-funding