Technion Research & Development Foundation is joined in the series C round by venture firms Accel Partners, Vertex Venture Capital, ProSeed Venture Capital Fund and eXeed Technology.

Technion Research & Development Foundation, a subsidiary of the Technion-Israel Institute of Technology, has backed Correlsense, a US-based transaction management software business, as part of a $3m round.

Technion was joined in the series C round by venture firms Accel Partners, Vertex Venture Capital, ProSeed Venture Capital Fund and eXeed Technology.

Correlsense was founded in 2005.