Xevo said Monday that it closed a $20 million third round of funding led by previous investor Advanced Technology Ventures (ATV) and newcomer Morgenthaler. The round also included contributions from investors such as Prism Venture Partners, Catalyst Health and Technology Partners, which also invested in both the $20 million second round and $4.2 million first round along with ATV. Cisco Systems and KPMG Consulting pitched in for the second round.
Xevo makes software for service providers like telecommunications carriers, application service providers, and Web hosting companies that help them supply and manage business software applications for their customers. The company maintains partnerships with Cisco, KPMG, Compaq Computer, Microsoft and Dell Computer.