Convercent Raises $10M

Denver-based Convercent, the developer of employee learning, compliance, and related software, said today that it has raised $10M in a Series B funding. The funding was led by SAP Ventures, and also inclkuded the company's prior investors, Azure Capital, Rho Capital Partners, and Mantucket Capital. As part of the funding, Convercent also said it has raised additional debt from City National Bank. Doug Higgins of SAP Ventures has joined the company's board with the funding. Convercent's cloud-based applications are used for employee training, risk, compliance, and other efforts. Size of the increased debt facility and terms were not announced. More information »