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Lumigent Raises $6 Million

Acton, MA-based Lumigent, a nine-year-old company long handicapped by a dwindling market for its database auditing software, said today that it has secured $6 million in new funding from Waltham, MA-based North Bridge Venture Partners to help with its new mission of helping companies lower the cost of complying with financial regulations such as Sarbanes-Oxley. The company said the funding will help it market its recently revamped products in the area of compliance auditing for enterprise resoure planning applications such as Deltek CostPoint and PeopleSoft Financials. We’ll bring you more on the story of Lumigent’s turnaround under new CEO John Capobianco later this week.

Wade Roush is Xconomy's chief correspondent. You can e-mail him at wroush@xconomy.com, call him at (617) 252-7323, or follow him on Twitter at http://twitter.com/wroush.

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