Tuesday, May 6, 2008

Rearden Commerce Raises $100M

Foster City-based Rearden Commerce, a developer of a service for managing business service spend, said this morning that it has raised $100M from JPMorgan Chase & Co., American Express, Oak Investment Partners, and Foundation Capital. According to the firm, the funding will be used to support the firm's product, which is a "user-friendly, web-based personal assitant." Rearden Commerce's product is used by corporations to help their employees find and book services which match company policies; track spending across services; and manage preferred suppliers. More information »