Wednesday, August 27, 2008

Expressor garners $10M in second VC round

By Mass High Tech Staff

Commonwealth Capital Ventures has led a $10 million Series B round of investment in Expressor Software Corp., a data management platform developer, company officials reported.

Boston-based Globespan Capital Partners and Sigma Partners, which operates an office in Boston, also participated in the financing. As part of the deal, Commonwealth Capital general partner Justin Perreault has been appointed to Expressor’s board of directors, company officials said.

Burlington-based Expressor was founded in 2003. The funding will enable the company to improve its next-generation data integration platform and expand marketing, sales, business development and product support, company officials said.

Waltham-based Commonwealth Capital, founded in 1995, is focused on software and software-based services, Internet and digital media, communications technology, and instruments and systems investments. Last year, the firm closed its fourth and largest-ever fund, at $250 million. Commonwealth currently manages more than $580 million of committed capital.

Globespan Capital Partners is a venture capital firm investing in information technology and clean-tech companies. It also operates offices in California and Tokyo.

Founded in 1984, Sigma Partners focuses on early-stage venture capital investment and operates with more than $2 billion under management. The firm is currently investing Sigma Fund 8, a $500 million fund raised in 2007.