Software-as-a-service remains hot sector for venture capital investment. The latest company to benefit from the trend is hosted customer service technology provider Parature
Inc., which said Wednesday that it landed a $16 million
Series B round from Accel Partners.
The deal included earlier backers Sierra Ventures
and Valhalla Partners, which backed the company's $13.5 million Series A round
in July 2006, as well as angel investors led by Ching-Ho Fung, who had backed the company since its formation in 2000.
Parature offers on-demand help-desk support technology, with no outsourced
services. The company now has more than 650 customers, serving 10 million end
users, and the new funding is aimed at growing sales distribution, increasing
marketing and business development, and adding prodc features. -- Clifford Carlsen
See May 7 press release from Parature
For more see VentureBeat
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