Thursday, 12 August 2010

Cloud and SaaS Funding News – Provade Inc Secures $3 Million

California software as a service company Provade Inc., which has a product development office in downtown Milwaukee, said Tuesday it raised $3 million in new funding.

San Mateo, Calif.-based Provade focuses on vendor management system technology for global work force spend management.

The financing round was led by Palo Alto, Calif.-based Asset Management Company. Also participating were Menlo Park, Calif.-based Altos Ventures and Harbor Pacific Capital, also of Palo Alto.

With the latest funding, total venture investment in the company now exceeds $23 million.

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