Date:21/04/2005 URL: http://www.thehindu.com/2005/04/21/stories/2005042104111900.htm

Business - Briefly

Approva secures $15 m in new funding

BANGALORE: Approva Corporation, the leader in enterprise controls management software, has raised $15 million in a series C round of venture capital financing. The round was led by new investor Sierra Ventures, with participation from previous investors Columbia Capital, New Enterprise Associates (NEA) and Novak Biddle Venture Partners. Tim Guleri, Managing Director at Sierra Ventures, will join Approva's board of directors. The new investment brings Approva's total funding to over $30 million, the largest investment in the enterprise controls software marketplace, says a release.