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.