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WebLayers Raises $3M, Hires CEO

Ryan McBride 1/13/09

WebLayers, a Cambridge, MA-based provider of software to govern IT policies of service-oriented architectures, says it has raised $3 million in an equity financing and tapped former Lotus Development CEO Jeff Papows to be its president and chief executive. The equity round, which has a contingency for additional funds, included participation from Ascent Venture Partners, Cedar Fund, and Veritas Venture Partners, according to the company.

Ryan McBride is Xconomy's correspondent. You can reach him at rmcbride@xconomy.com, or follow him on Twitter at http://twitter.com/Ryan_McBride.

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