Since 2001, Lavante has delivered ground-breaking supplier management solutions that seamlessly connect companies and their suppliers. Lavante solutions include on-demand recovery auditing and supplier information management, which allow companies to drive dollars to the bottom line, ensure accurate quality of supplier data, and improve supplier relationships. Lavante on-demand solutions are used to recover millions of dollars for large enterprises on an annual basis.

The new funding will enable Lavante to fuel market momentum and growth, invest in new products, and accelerate customer acquisition. The announcement follows multiple quarters of record growth for Lavante, including over 100 percent year-over-year growth and record customer acquisition in the third quarter of 2010. Lavante will continue to advance its revolutionary on-demand supplier management solutions, including recovery auditing and supplier information management, while also expanding the Lavante Supplier Network^TM.

Supporting Quotes
"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. 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." - Andreas Weiskam, partner, SAP Ventures

"We are very excited to have SAP Ventures join our group of financial investors. We see this as a strong endorsement of our strategy and value to the market, and we look forward to leveraging SAP's tremendous expertise to further expand our business. Lavante is committed to delivering the leading technology for recovery auditing and supplier management, allowing our enterprise customers to recover more dollars faster than any other solution in the industry, all while improving their supplier data. This incremental funding enables us to invest aggressively in our supplier management solutions and helps ensure the success of our rapidly-growing customer base." -Joe Flynn, founder and CEO, Lavante