XLerant Closes $3M Series B Financing

XLerant, Inc., a Norwalk, CT-based provider of budget preparation software for mid-sized and large organizations, has closed a $3m Series B round of financing.

The round was led by Chrysalis Ventures, with participation from existing investors, including Connecticut Innovations.

The company intends to use the funding for sales and marketing expansion in North America.

Founded in 2005 and led by CEO Ted Dacko, XLerant offers a budgeting and planning application called BudgetPak, which replaces spreadsheet-based budgeting to provide user flexibility and financial controls throughout the entire fiscal year.

In conjunction with the financing, Chrysalis Principal Wright Steenrod will join XLerant’s board of directors.



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