Vela Systems Scores $6M Series B

Gregory T. Huang9/2/10

Burlington, MA-based Vela Systems, a mobile field software startup, said today it has raised a $6 million Series B equity financing led by new investor Autodesk (NASDAQ: ADSK). Existing investors Commonwealth Capital Ventures, GrandBanks Capital, and individual investors also participated in the round. Vela Systems says the new money will be used to “expand and address rapidly-growing customer demand,” as well as to support and expand the company’s existing partnership with Autodesk. Vela Systems was founded in 2005 and makes field management software that runs on iPads, tablet PCs, and other mobile devices for construction, architecture, and engineering applications.

Gregory T. Huang is Xconomy's National IT Editor and the Editor of Xconomy Boston. You can e-mail him at gthuang@xconomy.com, call him at 617-252-7323, or follow him on Twitter at @gthuang.