Wednesday, July 16, 2008

Laru Corporation, a provider of Automated Clearing House risk and compliance management software applications for financial institutions

What Company Is Offering:
Laru Corporation is a provider of ACH risk and compliance software applications. Financial institutions, aggregators and corporations use the company’s products to identify, resolve and prevent ACH fraud and network violations. Laru’s flagship product, ACH ClarityTM, monitors and manages the risks of originating, receiving and processing ACH transactions, and provides an independent ACH audit platform in accordance with OCC Bulletin 2006-39.

How Much They Got From VCs:
Laru Corporation, a provider of Automated Clearing House (ACH) risk and compliance management software applications for financial institutions, today announced Velocity Venture Capital has increased their investment in the company as part of their Series A round of financing.

Velocity Venture Capital, a Sacramento-area based venture capital fund that invests in early stage technology companies, led the initial A round in May of this year. The additional investment was secured as a result of Laru’s meeting a number of second quarter financial targets, including revenue, cash flow and new customer goals.

Laru’s proprietary solutions offer a fully automated, Web-based platform upon which banks, credit unions and other major financial institutions can rapidly identify, resolve and prevent costly ACH fraud and network violations. The company’s products are used by both ACH originating and receiving operations within financial institutions.

More at:www.larucorp.com

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