Zapproved announces closing of USD1.45m Series B investment

Software provider Zapproved Inc announced on Monday that it has closed a USD1.45m Series B investment led by a group of technology executives and established investors

The company said the investment round will enable it to meet the growing demand for its Legal Hold Pro product, which manages legal hold notification and compliance.

Zapproved added that it will also be able to expand the product lines on its compliance platform.

Participants in the investment round included: Steven Singh, CEO of Concur Technologies Inc, an on-demand service provider of integrated travel and expense management solutions; Mark Stevens, former General Partner at Sequoia Capital; Skip Walter, founding CEO and CTO of Attenex Inc; Allen Alley, former CEO and Chair of Pixelworks; Kanth Gopalpur, General Manager and President of Monsoon Commerce; and Raj Kulkarni, founder of GemStone Systems, recently acquired by the leasing virtualization vendor VMware, according to Zapproved.