US-based enterprise software developer Nuvolo secured $12m yesterday in a series B round led by Kaiser Permanente Ventures, the corporate venturing arm of care consortium Kaiser Permanente.
GE Ventures and ServiceNow Ventures, the respective investment units of industrial product manufacturer General Electric and enterprise software provider ServiceNow, also took part in the round, as did VC firm New Enterprise Associates (NEA).
Nuvolo has developed a cloud-based workplace management software that helps businesses more effectively manage their assets and facilities.
The platform is used in industries such as healthcare, higher education, e-commerce, life sciences, financial services, oil and gas, retail and manufacturing.
Sam Brasch, senior managing director at Kaiser Permanente Ventures, said: “The Nuvolo enterprise asset management platform creates significant operating and administrative efficiencies for its customers, which in the healthcare space allows for increased investment and focus on care delivery.”
GE Ventures led the company’s $10m series A round in 2017, investing alongside ServiceNow Ventures and NEA. The latter two investors had previously backed Nuvolo’s $2m seed round in 2015.