Savo, the US-based creator of software platform to help drive sales, closed a $35m venture capital round led by investment bank Goldman Sachs yesterday that also featured existing investors SAP Ventures, the corporate venturing arm of software provider SAP, and Sterling Partners.
The round brought Savo’s overall funding to $84m, with SAP and Sterling both investors since the company’s $10m series A round in 2005. Savo plans to invest the cash in global expansion and in developing its range of sales and marketing applications.
Mark O’Connell, CEO of Savo said: “Goldman Sachs has a proven track record of funding growing market leaders and we’re excited to work with them.”
Michael McGinn and Holger Staude from Goldman Sachs’ Private Capital Investing group will join Savo’s board of directors in conjunction with the funding.