RazorSight Corp., provider of on-demand financial audit and analytics software for media, communications and entertainment companies, has raised $4 million in additional Series A funding according to a regulatory filing. The company held a $10 million first close on the round in late 2005, led by Sierra Ventures.

“We had a great 2007, and the strong demand for our next generation software-as-a-service positions us for a strong fiscal year in 2008. Our customers and partners have recognized the value of deploying an on-demand solution that delivers significant savings, while lowering the overall cost of managing these costs through reduced expenditure on IT, internal resources and external auditors,” said Charlie Thomas, CEO Razorsight.

Razorsight Corporation is the market leader in on-demand financial business intelligence solutions for Communications, Media and Entertainment companies. Razorsight’s Software-as-a-Service (SaaS) solutions automate payables processes, eliminate paper, provide detailed visibility into carrier cost and revenue data, and ensure actionable insight that reduces operating costs, improves margins and enables better SOX compliance.

Razorsight has dramatically transformed the way communications companies process, manage and leverage corporate payables and receivables data. Razorsight’s highly scalable, web-based software is easy to install, requires no capital investment and has helped clients realize documented savings of over $2 Billion. Razorsight solutions are used by industry leaders such as Verizon, Time Warner and Comcast, as well as by small and medium sized carriers.