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Framingham firm Correlsense Ltd. has taken in $8 million in a Series B funding round led by Accel Partners and including existing backers Vertex Venture Capital, eXceed Technology and ProSeed Ventures. The company makes the business transaction management software SharePath.
According to Correlsense officials, the company will use the new funds to expand its customer base and add to its distribution channels with partners in North America and Europe.
Correlsense was founded in 2005 in Israel by CEO Oren Elias, along with co-founder Lanir Shacham. In May of 2008, Correlsense took in its Series A funding worth $3 million from Vertex, eXceed and ProSeed.
SharePath allows IT departments at large enterprises to manage service level agreements, performance, capacity planning, change management and chargebacks, according to Correlsense officials.
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