XLerant is a Norwalk, CT-based software company founded in 2005 that provides budget preparation and planning tools for mid-sized and large organizations. Its core product, BudgetPak, replaces spreadsheet-based budgeting and offers user flexibility and financial controls throughout the fiscal year. The company is led by CEO Ted Dacko. XLerant closed a $3m Series B financing led by Chrysalis Ventures with participation from existing investors including Connecticut Innovations. It intends to use the funding to expand sales and marketing efforts in North America. As part of the financing, Chrysalis Principal Wright Steenrod will join XLerant’s board of directors. XLerant provides proprietary corporate budget preparation software designed to help mid-sized and large organizations improve financial performance throughout the fiscal year. Its product includes automated workforce planning, approval and spreading, Excel integration with on-demand templates, automated formulas, line-item explanatory notes, self-service reporting, a watch box for real-time comparisons and budget progress status screens. The company is led by President Ted Dacko and was founded by Lawrence Serven and Charles Pevsner. Based in Norwalk, Connecticut, XLerant focuses on practical budgeting workflows for enterprise users. The company recently received early-stage funding from institutional investors. The new funds will enable XLerant to expand its Software-as-a-Service offerings.

Total raised

$3M

Funding rounds

2

Latest round

Series B

Latest activity

Jan 2012