PowerSteering Raises $3.5 Million - Cambridge, MA

PowerSteering, a Cambridge-based developer of software for managing IT, product development and other strategic initiatives, announced on Monday that it has raised $3.5 million from MMV Financial, a Toronto-based-based investment firm. PowerSteering said that the funding will support several "customer satisfaction initiatives to improve performance for international customers in remote locations, strengthen 24 x 7 global customer support and worldwide hosting services, and facilitate new Enterprise PPM product enhancements in its upcoming Spring 2008 release." Also on Monday, PowerSteering named Michael Roberts as its senior vice president of worldwide sales. Roberts previously held management positions at Vignette, Primavera, Prosight, IBM and Sequent.

http://www.powersteeringsoftware.com