OpsTechnology opts for funding.

OpsTechnology, creator of a Web-based supplier network for real estate operating companies, announced that it has raised $4 million in its fourth round of funding. The first three rounds, completed between 1999 and 2003, totaled $12 million, bringing overall investment in the company to $16 million. Series D investors include:

SAP Ventures, the venture capital arm of SAP AG; Internet Realty Partners, a venture fund sponsored by Cohen & Steers; Capital Management, Inc.; Vortex Partners and Crest Opportunity Fund IX.

OpsTechnology was founded in 1999 by real estate and software industry experts to improve efficiencies, reduce costs and save money for real estate operating companies by improving their ability to manage the relationships between property and their suppliers. The company's customers include real estate investment trusts, product and service suppliers and property management companies. OpsTechnology's supplier network includes more than 80 top vendors, including Sherwin Williams, Home Depot Supply and Whirlpool.

Rajiv Naidu, founder, chairman and CEO of OpsTechnology, said, "This round of funding represents not only a major step for our ability to grow our business, but it is also a testament to the success of our model. Our ability to raise more than $4 million from public and private companies in this economic climate is a validation of OpsTechnology products, which have generated proven, tangible financial benefits for our customers."

Chris O'Neill, a general partner at Vortex Partners and a board member for OpsTechnology, said "The OpsTechnology model is now proven and his latest round of financing will help fuel their growth and market penetration. With demonstrated success among real estate companies and their product and service suppliers--be they national companies or regional players--OpsTechnology has the momentum to continue scaling."