Centerstone Software, a Westwood, Mass., application service provider (ASP), has raised $5.5 million in
first-round financing for product development and sales and marketing.
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Boston-based Egan-Managed Capital was the lead backer. Corning Technology Ventures, Massachusetts Technology Development Corporation and Trans
National Group also participated.
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"The Centerstone management roster is graced with both strategic depth and tactical skill," said Bob Creeden, general partner for Egan-Managed Capital.
"We are excited to partner with such a strong founding team. Centerstone is well-positioned for strong growth and product expansion."
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Centerstone's flagship product, e-Center One, helps corporate managers track real estate portfolios, floor plans, equipment locations, personnel attributes and lease
information, on a subscription basis.
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e-Center One is designed to interface with multiple computer aided drafting products and integrate with a company's existing software programs.
"The fact that this distinguished group recognizes the value of our offering to better manage the Workplace is a true testament to our vision and business model," said
Mathew Meyer, Centerstone's CEO and founder.
Centerstone began in 1995 as an internal division of a large Bay State architectural firm. It spun off in early 1999 and began focusing on workplace
management software. Its e-Center One offerings was introduced in May of 2000, and is in its third version.
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