eVapt Inc. Lands Seed Funding led by Applied Reasoning, LLC
Austin, TX, January 17, 2008 – eVapt Inc., a software infrastructure provider for Software as a Service (SaaS) applications, announced the closing of a seed round of funding led by Applied Reasoning, LLC. The terms of the financing were not disclosed.
"Applied Reasoning, with its emphasis on Austin-based technology companies, is the perfect investor to help fuel our growth," said Divakar Jandhyala, CEO, eVapt Inc. "This funding will allow us to capitalize on the market opportunity in the SaaS infrastructure space."
John Kinnaird of Applied Reasoning will join the eVapt Board of Directors effective immediately. As a former senior Dell executive, Kinnaird adds high tech sales and marketing expertise to our management team. "The SaaS market is growing substantially faster than traditional software and is expected to be over $10 Billion in a few years," said Kinnaird. "eVapt is well positioned to take advantage of the latest technologies and become a leader in enabling the pay-as-you-use model."
Our solution allows SaaS providers to more effectively provide their on-demand solution. A key feature of the solution is a usage dashboard which provides visibility into how a provider's customers are utilizing their features. SaaS providers can then use our other features to create pricing packages and contracts, correlate customer usage and automate their entire back office operations. "Our solution allows SaaS providers to focus on their core competence and help with revenue assurance," said Jandhyala. "Tight integration into the Salesforce.com platform allows SaaS vendors to incorporate our offering easily into their sales workflow."
About eVapt Inc.
eVapt Inc. is a software service company which enables usage-based selling for Software as a Service (SaaS) providers. By using eVapt's solution, SaaS providers can deliver back office operations more efficiently and effectively. The solution allows providers to focus on their core strength, which is business service delivery. The company is based out of Austin, Texas and was formed by software industry veterans with a vision to enable a world in which enterprises, small business and individuals can simply buy business services on demand. For more information, visit www.evapt.com.
About Applied Reasoning, LLC
Applied Reasoning, LLC is an Austin-based investment firm which provides value to its portfolio companies and investments through active participation in management.
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