BRIEF: Transaction management co Correlsense raises $3m 

BRIEF: Transaction management co Correlsense raises 3m

Jul 22, 2012 (Menafn - Globes - McClatchy-Tribune Information Services via COMTEX) --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 percent 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 percent 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.

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