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Business Layers lands $25 million

Business Layers announced Monday that it has received $25 million in a fourth round of funding, led by Canaan Partners. Other investors included Ascent Ventures, Gemini Capital, Israel Seed Partners, Formula Ventures, Novell Ventures and individual investor Shlomo Kramer. Rochelle Park, N.J.-based Business Layers has raised a total of $50.6 million. Although changes to valuation remained flat in this latest round, the round was oversubscribed, said Chief Executive Izhar Shay. The company initially planned to raise $20 million. Business Layers develops software designed to determine the equipment needs of employees, ranging from computers to cell phones, and then configures the devices with such things as email, access to CRM applications and software tools. The software also monitors these configurations to limit or expand access, as needed.

Business Layers announced Monday that it has received $25 million in a fourth round of funding, led by Canaan Partners. Other investors included Ascent Ventures, Gemini Capital, Israel Seed Partners, Formula Ventures, Novell Ventures and individual investor Shlomo Kramer. Rochelle Park, N.J.-based Business Layers has raised a total of $50.6 million. Although changes to valuation remained flat in this latest round, the round was oversubscribed, said Chief Executive Izhar Shay. The company initially planned to raise $20 million. Business Layers develops software designed to determine the equipment needs of employees, ranging from computers to cell phones, and then configures the devices with such things as email, access to CRM applications and software tools. The software also monitors these configurations to limit or expand access, as needed.