eVapt, a member of the Austin Technology Incubator and one of the Austin Emerging 100, announced the closing of a new round of funding by Applied Reasoning, LLC. The terms of the financing were not disclosed. “Applied Reasoning, one of our seed round investors, is the perfect investor to help us sustain growth,” said Divakar Jandhyala, CEO, eVapt Inc. “This funding will help us ride out the economic crisis and increase momentum in the market.”

eVapt’s solution allows SaaS and cloud providers to make their on-demand solution available on a pay as you go model. SaaS providers can use eVapt’s solution to create pricing packages and contracts, correlate customer usage and automate billing operations. “eVapt’s solution lets SaaS and cloud service providers focus on their core competence and helps with revenue acceleration,” said Jandhyala. “Strong integration capabilities let SaaS vendors incorporate eVapt’s offering easily into their environment and workflow.”