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Aceva Technologies  Acquired by Sungard (2007  amount undisclosed )

1810 Gateway #360
San Mateo, CA 94404
Website Company Summary Management Team

Outside board: (May no longer be on the board) Theresia Gouw Ranzetta (Accel) David S. Dury (Aspect Development CFO) Peter Fenton (Accel) Sameer K. Gandhi (Sequoia Capital) Erik Lassila (Idealab)

Business description: Aceva Technologies is an enterprise software company that unlocks Working Capital trapped in accounts receivable. Our software application models, measures, and manages the entire quote-to-cash process in order to significantly increase the quality of invoices and, as a result, reduce Days Sales Outstanding. Aceva's proprietary technology utilizes event modeling and reconciliation algorithms to intelligently alert the business user on transaction inconsistencies when they happen, allowing root causes of payment delays to be fixed upfront in the transaction cycle. Aceva's product is architected to enable continuous improvement of business-critical financial operations. Forward-thinking enterprises deploy the software to improve the quality of their quote-to-cash process - monitoring their transactions, fixing the inconsistencies, and eliminating persistent root causes. Aceva's consulting, professional services and support organizations provide opportunity assessment, installation, integration, and technical support, and deliver a comprehensive, sustainable solution.
Customers include: Avaya Gibraltar Industries NetAppStorageTek ;  Fortune 1000 emarketplaces;  Ikon Office Solutions ;  Philips Electronics ;  Sherwin-Williams
Partners include: BEA SystemsCalico CommerceCommerce OneGEIBMOracleRational SoftwareTibco SoftwareVeriSign;  Idapta;  MandI;  Progeon;  Vengroff, WilliamsAndAssociates

Rounds: 2
Recent Fundings: Sep 2005   Aug 2000
Capital raised: 55.5M
Last Round: 5.2M
Ownership: Acquired by Sungard (2007  amount undisclosed )
Angels/other VCs: Dublier Clayton (& Rice)
Corporate investors: VeriSignAOLOracle Ventures

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Record updated: Feb 2007
Sector: Software
Year Founded: 1999
Headcount: 101-150 as of Feb 2002
Rounds: 2
Recent Fundings: Sep 2005   Aug 2000
Capital Raised: 55.5M
Last Round: 5.2M
Ownership: Acquired by Sungard (2007  amount undisclosed )