SelectHub emerged from stealth mode in June and launched its SelectHub service for IT product evaluation, vendor sourcing and procurement. The value of SelectHub's service, according to the company, is its ability to foster IT and business manager collaboration around IT purchasing decisions, reducing the amount of money businesses waste through poor IT purchasing decisions and failed IT projects.
The company cited studies showing that software projects have a failure rate as high as 68 percent and more than 10 percent of software purchases end up as unused "shelfware."
SelectHub CEO Venkat Devraj previously founded Stratavia, a database and middleware automation technology that Hewlett-Packard acquired in August 2010. Denver-based SelectHub was founded in 2012.