Acton Firm Lands $3M In Venture Funding

Acton-based software company Lumigent Technologies Inc. has closed a new, $3 million round of funding with North Bridge Venture Partners of Boston.

The funds will be used to accelerate the company's expansion and to reinforce its executive team.

Lumigent launched its AppGRC financial management, audit and compliance software last year and "completely retooled the company to support it," the company said.

Continued funding by North Bridge "reflects the confidence and commitment of our investors," the company said.

Also during 2009, the company hired CFO Lisa Mastrangelo and Rick Ruskin, vice president of sales.