Transaction management solutions developer Correlsense Inc. has raised $3 million in its third financing round from previous investors Accel Partners, eXeedTechnology, ProSeed Venture Capital Fund (TASE:PRSD), Vertex Venture Capital, and the Technion R&D Foundation. The company will use the funding to expand its sales and technology partner channels, and hire sales staff, as well as to continue development of its SharePath Data Center and Real User Monitoring products.
Correlsense was founded in 2005 by EVP strategy and business development Oren Elias and CTO Lanir Shacham, and is headquartered in Framingham, Massachusetts with an R&D center in Herzliya Pituah. The company's SharePath solution monitors 100% of transactions across all applications across multiple tiers in a data center. The company has raised $17 million to date, and also obtained a $3.4 million bridge loan from Atlantic Capital in late 2011. ProSeed, which owns 10% of the company, booked its value at $20 million at the end of March 2012.
In May, Correlsense appointed Ken Marshall as CEO, succeeding Elias.
Published by Globes [online], Israel business news - www.globes-online.com - on July 22, 2012
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