RALEIGH … Software applications developer HAHT Commerce has raised $4.1 million from current investors, taking its total haul since a 2001 restructuring to $37 million, according to a report in Triangle Business Journal of Raleigh.
HAHT Chief Executive Tom Thomas told the newspaper the latest funding will be used to “ratchet up sales,” and the company is in the process of hiring additional salespeople.
Thomas declined to specify which investors had contributed to the round, except to say there were no new ones. State securities filings show that, of the $4.1 million, about $3.1 million came from seven investors in California, while another $511,000 came from four investors in North Carolina, the newspaper reported.
The MoneyTree Survey reported that HAHT had obtained $5 million in venture capital during the first quarter, but company spokesman Bob Gallagher recently told LocalTechWire that the information was incorrect.
“I don’t know where that information came from. We haven’t raised any money since the B round,” Gallagher said. That round was completed about a year ago.
Accounting firm PricewaterhouseCoopers, the National Venture Capital Association and the Venture Economics research firm compile the MoneyTree Survey each quarter, based on information gathered from venture firms nationwide.
HAHT had filed to raise $6.5 million but settled for $4.1 million, according to Triangle Business Journal. “We got what we needed out of the round,” Chief Financial Officer Nick Riehle told the newspaper.
The company has been building applications that help consumer products makers standardize product details, making it easier for them to target retailers like Wal-Mart, which in turn find it simpler to track inventory. Its three niche applications target manufacturers, chemical companies and retailers.
HAHT Commerce: www.haht.com
