Approva was a technology company founded in 2001 that developed continuous controls monitoring and audit software, enabling organizations to enhance visibility into financial and IT controls, streamline audits, and maintain compliance efficiently.[1] Headquartered in Reston, Virginia, it raised $33.9M from investors including New Enterprise Associates, Columbia Capital, and Gold Hill Capital before being acquired by Lawson Software in September 2011, after which it integrated into Infor's product lineup as Infor Approva, focusing on process standardization and transparency.[1][4]
The software served enterprises in cybersecurity and compliance-heavy sectors, solving pain points in monitoring controls and reducing audit costs.[1] Post-acquisition, it evolved to support modern process improvements, as highlighted in recent discussions on its updates.[4]
Approva was established in 2001 in Reston, Virginia, as a provider of specialized software for continuous controls monitoring and auditing.[1] Key details on founders are not specified in available records, but the company quickly gained traction in the cybersecurity space, attracting top-tier venture capital from firms like New Enterprise Associates, Columbia Capital, Novak Biddle Venture Partners, and Gold Hill Capital.[1]
A pivotal moment came in September 2011 when Lawson Software acquired Approva in an undisclosed deal, marking the end of its independent phase and its integration into larger enterprise software ecosystems.[1] This acquisition preserved its technology while expanding its reach, leading to its rebranding and updates under Infor, where it continues to drive innovations in process transparency.[4]
Approva stood out in the compliance software market through these key strengths:
Its venture-backed growth and acquisition by Lawson/Infor underscored a strong track record in enterprise software.[1]
Approva rode the early 2000s wave of regulatory compliance demands, such as Sarbanes-Oxley, where enterprises needed tools for ongoing controls monitoring amid rising cybersecurity threats.[1] Its timing aligned with growing IT audit complexities, positioning it as a key player in a market now valued in expert cybersecurity collections spanning thousands of firms.[1]
Market forces like increasing digital threats and compliance regulations favored Approva's model, influencing the ecosystem by setting standards for integrated audit software—later amplified through Infor's enterprise platform.[1][4] This legacy contributes to broader trends in automated governance tools still relevant in regulated industries.
As a pioneer in controls monitoring, Approva's technology lives on within Infor, with ongoing updates focusing on standardization and transparency to meet evolving enterprise needs.[4] Trends like AI-driven audits and heightened cybersecurity regulations will shape its trajectory, potentially expanding into cloud-native compliance.
Its influence may grow through Infor's ecosystem, powering more resilient controls in a threat-heavy landscape—echoing its original mission to make compliance cost-effective and proactive.[1]
Approva has raised $33.0M in total across 3 funding rounds.
Approva's investors include Fundamentum, Sierra Ventures.
Approva has raised $33.0M across 3 funding rounds. Most recently, it raised $14.0M Series E in August 2009.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Aug 1, 2009 | $14.0M Series E | Fundamentum, Sierra Ventures | |
| Mar 1, 2007 | $4.0M Series D | Fundamentum, Sierra Ventures | |
| Mar 1, 2005 | $15.0M Series C | Fundamentum, Sierra Ventures |
