Stamford budgeting-software developer XLerant Inc. has named Hartford venture capitalist Will Wilcoxson as its chief executive officer.
Wilcoxson, a former GE Capital executive, most recently was general partner of Axiom Venture Partners in Hartford.
Ted Dacko, a software sales and marketing veteran, also joins XLerant as executive chairman. Additionally, veteran software executive Jim Perakis joined the board of directors.
XLerant founders Lawrence Serven and Charles Pevsner remain active in the company. Pevsner is chief technology officer.
XLerant recently became one of the first Connecticut companies accredited in the state’s angel investor tax credit program.
Earlier this month, Connecticut Innovations, the state’s quasi-public technology investing arm, participated with a group of previously unidentified “angel investors” in the latest infusion of capital into XLerant.
Wilcoxson new role suggests that XLerant was among the angel investors.
CI put up $500,000, raising its total XLerant investment to date to $1.3 million.
XLerant’s BudgePak software works akin to TurboTax to convert a business’s strategic plan into numbers. The result is more accurate and meaningful budgets, officials say.
