NEW YORK (GenomeWeb News) — Software company InforSense said today that it has received a $5 million financing commitment from existing investors, and that company founder Yike Guo will be stepping down from the CEO position to serve as chief technology officer and head of innovation.
David Bennett, who joined the company in January 2008 as executive vice president of worldwide sales, has been appointed the company's new CEO, effective immediately.
The company, which has offices in London and Cambridge, Mass., said it plans to use the funding to invest in technology and infrastructure, and to expand its offerings, which include a suite of visual and predictive capabilities for science and business uses.
InforSense did not identify the investors involved in the round, but said that it included members of its executive team.
The privately held firm said that the funding commitment follows "consecutive record revenue quarters" that have resulted in year-over-year growth of around 30 percent.