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Business software firm wins $3.75 million

Tech Industry

Approva announced Monday that it raised a $3.75 million second round of funding, co-led by existing investors Columbia Capital, New Enterprise Associates and Novak Biddle Venture Partners. The Vienna, Va.-based company has raised a total of $6.85 million. Approva develops software to continuously monitor such business procedures as procurement, payroll and accounts receivables.

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