Sprout Group Invests in Platinum Software

Platinum Software Inc., an Irvine financial software company, said Friday that it has raised $18.2 million from venture capitalists. In a privately placed deal, an investor group purchased 231,915 shares of newly created Series C preferred stock, the company said.

Sprout Group, which led the purchase, is the venture capital affiliate of Donaldson, Lufkin, and Jenrette, a New York investment firm. Sprout manages more than $1 billion and has invested in more than 200 companies.