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Novient raises $25 million

Despite a recent slowdown in venture capital financing, software maker Novient said Wednesday that it raised $25 million in venture capital. Returning investors included First Union Capital Partners, Hummer Winblad Venture Partners, Mellon Ventures and Noro-Moseley Partners. LLR Equity Partners and Southeastern Technology Fund were new investors in the company, which makes software for service providers. The Atlanta-based company said it plans to use the financing for additional product development, working capital, and sales and marketing programs, as well as to expand its European program.

Despite a recent slowdown in venture capital financing, software maker Novient said Wednesday that it raised $25 million in venture capital. Returning investors included First Union Capital Partners, Hummer Winblad Venture Partners, Mellon Ventures and Noro-Moseley Partners. LLR Equity Partners and Southeastern Technology Fund were new investors in the company, which makes software for service providers.

The Atlanta-based company said it plans to use the financing for additional product development, working capital, and sales and marketing programs, as well as to expand its European program.