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Approva
Continuous monitoring software that enables companies to meet their governance, risk and compliance requirements
About Approva
Founded in 2001 by PV Boccasam, Approva emerged as a provider of continuous controls monitoring software. The company's core business centered on developing software that helped enterprises automate their business processes, manage and mitigate risks related to fraud, and ensure regulatory compliance. Approva's software was designed to enable companies to monitor various controls across multiple applications, serving the finance, audit, and IT departments of large corporations. Some of its notable clients included Bayer, DirecTV, Honeywell, Kraft, Northrop Grumman, Siemens, and T-Mobile.
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From its headquarters in Reston, Virginia, Approva successfully navigated the enterprise software market for a decade. The company's growth was supported by significant venture capital funding, raising a total of $55.7 million over 10 rounds from investors such as New Enterprise Associates, Sierra Ventures, and Novak Biddle Venture Partners. The first funding round occurred in February 2002, with the last-disclosed Series C round in August 2009 for $14 million. This financial backing enabled the company to scale its operations and enhance its product offerings in the governance, risk, and compliance (GRC) sector.
The company's journey as an independent entity concluded in September 2011 when it was acquired by Lawson, which was later acquired by Infor. This transaction was characterized as an acqui-hire, indicating the value placed on Approva's team and their expertise in addition to its technology. At the time of its acquisition, Approva provided a suite of controls intelligence software that automated both IT and financial controls for major enterprise applications, solidifying its position within the application software and business-to-business services industries.
At a glance
- Status
- Acquired
- Founded
- 2001
- Headquarters
- Reston, United States
- Open positions
- None listed
- Dealroom signal
- 58.1/100
- Industry
- Legal
- Sub-industry
- RegTech & Compliance
- Sector
- Legal, Testing, Verification, Risk Management, Compliance, Monitoring, Certification, Regtech Compliance
- Client focus
- b2b
Latest news
Press, funding announcements and product moves mentioning Approva.
Funding history
Company financing events and reported valuations.
| Deal type | Date | Amount | Valuation | Investors | Source |
|---|---|---|---|---|---|
| ACQUISITIONOther financing | Sep 2011 | $0 | — | Lawson Software | — |
| SERIES EOther financing | Aug 2009 | $14M | $56M | NEA · Sierra Ventures · Gold Hill Capital · Columbia Capital | — |
Growth signals
Latest recorded traffic for Approva is 130 monthly website visits.
Similar companies
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Investors
From Dealroom's funding and investor records, grouped by the round each investor first entered.
Seed2 investors entered at this stage
Silicon Valley Bank- GCGold Hill Capital
Series A3 investors entered at this stage
NEA
Novak Biddle Venture Partners
Columbia Capital
Series B and later1 investor entered at this stage
Other known investors1 additional known investor
Lawson Software
Source: Dealroom Talent Intelligence.
Global footprint
Market sentiment
An AI-synthesised read of the highest-engagement posts about Approva on X, ranked by likes and reposts, corporate channels excluded.
Reading the room on X — pulling top posts and synthesizing themes…
Source: X recent search ranked by engagement (likes + retweets) · Synthesis by Claude · Cached for 1 hour
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