Silicon Valley software-as-a-service firm Paradata, which has set the modest goal of becoming the Google of supply chain management tech, became the first portfolio company of SAP.io, a VC firm backed by German tech titan SAP (SAP) , in March.
SAP.iO joined Richmond Global and PivotNorth invested $10 million in Paradata. The new fund, announced in March, looks for startups that benefit from SAP’s data and technology, and is meant to dovetail with an older VC effort from the Walldorf, Germany, enterprise software developer.
“SAP has been driving the digitization of industries for 40 years,” SAP.iO Managing Director Ram Jambunathan said in an email.
SAP.io targets early-stage innovators while Sapphire Ventures, an SAP affiliate that dates to 1996 and became an independent firm in 2011, focuses on later-stage companies. While Saphire Ventures is independent, CEO and Managing Director Nino Marakovic noted in an email that SAP is the largest limited partner and has contributed $2.4 billion to the VC outfit.
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