A small funding round …

I was pleased to learn that Austin-Tetra was able to secure funding. While a small round, I personally still think it's a good sign that VCs are putting money into vendors which offer new -- and unique -- types of Spend Management solutions. Come on, how many ASP e-sourcing platforms do we really need? Pretty soon, we'll be able to purchase a single reverse auction seat for less than the cost of a monthly supply of lattes (well, maybe not, but given the intense price competition in the very low-end of the sourcing market, you catch my drift).

In my book, companies like Austin-Tetra, Open Ratings, and Apexon are the next generation of Spend Management start-ups, and if I were placing bets with my own capital, I'd be far more inclined to consider new types of ventures like these guys. At this stage of the Spend Management market, the last thing we need is another eRFX or eProcurement platform ...

-Jason Busch

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