HiSoftware gains new funding, CEO

December 5, 2005

NH Business Review Staff,

HiSoftware, a Web analytics software provider based in Concord, recently closed its latest round of venture funding, led by Belmont Capital Partners LLC and Westwood Technology Ventures.

Although numbers were not released, company officials said the amount was in “low seven-figure millions.”

In addition to the fresh infusion of support, HiSoftware has a fresh chief operating officer as well. Technology veteran Kurt A. Mueffelmann was named by the company’s board of directors to be the new president and CEO and member of the board, succeeding Robert Yanitis, who will become chief technology officer and vice president of development.

Previously, Mueffelmann served as vice president and general manager of Bottomline Technologies. He also led data technology firm Create!form, named a Fast 500 company by Deloitte & Touche.

“We’re really excited to receive this funding,” said Mueffelmann. “With the proceeds, we’re looking to really ramp up our marketing efforts and put together a product package.” — CINDY KIBBE

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