Prosperoware closes new funding round with Rittenhouse Ventures

Big news just in from Prosperoware, which has closed an as yet undisclosed funding round led by Philadelphia-based emerging-growth VC Rittenhouse Ventures, which invests in innovative business-to-business software companies in the Mid-Atlantic region. The capital raised will be used to expand Prosperoware’s product applications, marketing and sales activities, and geographic footprint.

“Prosperoware offers unique technology tools to maximize value for professional service firms in a market faced with increasing pressure on margins. Given our track record with enterprise software platforms, we are excited to enhance Prosperoware’s market leadership as it delivers and sustains top-tier solutions to the legal and professional services industry,” said Bruce Luehrs, managing partner at Rittenhouse Ventures.

Among Prosperoware’s core products is Umbria, which as we revealed in April Clifford Chance signed up to this year, which enables firms to deliver matters at the expected price by integrating the critical business functions of sell, deliver, leverage and measure. The next generation cloud-based platform, CAM, manages all cloud applications from a single place. The company’s Milan products enable firms to mitigate risk, secure client data at scale, and meet ethical, regulatory, and client privacy mandates, as well as drive key operational efficiencies.

According to CB Insights, Rittenhouse has in 2018 invested $1.1m in ConveyIQ. In 2017 it invested $15m in Energage; $5.14m in VIDA Diagnostics and $1.6m in WealthHub Solutions. The amount it invested in that year in Haystack Informatics is undisclosed.

We’ve yet to get hold of Prosperoware’s founder Keith Lipman to find out more about the funding round but we’ll update you when we do.

You can read more about the Clifford Chance/Umbria deal here: