SAP Ventures, the corporate venturing division of Germany-based software company SAP, has led the $14m round for US-based online sales consultancy Savo Group.
Existing investor, US-based private equity firm Sterling Partners, also participated in the Series C round.
Sterling Partners had previously been the sole investor in Savo’s $10m series A round, in September 2005, according to the Illinois Venture Capital Association. A $10m series B round, funded by investors including Sterling Partners, followed in 2008. This means Savo has raised at least $34m in total
Doug Higgins, a managing director at SAP Ventures, said: "Savo has created an on-demand, social collaboration platform with a focused purpose of solving the pressing problem of revenue optimization. Beyond our investment is our commitment to leverage our extensive network of relationships to help Savo expand its global reach."
The funding is part of a series of recent SAP investments into online-based firms, including cloud-security company Ping Identity, the business search firm Just-Dial and digital advertising company OpenX.