September 25, 2006 2:22 PM PDT
Web applications company Nexaweb lands $10 million
Nexaweb Technologies said on Monday it has secured $10 million in a second round of funding, which it will use to ramp up its sales and development operations.
Burlington, Mass.-based Nexaweb makes development tools for creating so-called rich Internet applications, or interactive Web programs that have a similar look and feel as traditional desktop applications. Funding came from Egan-Managed Capital, Masthead Venture Partners and Velocity Partners. In addition, the company said that it has named Christian Heidelberger as CEO.