IRule, a US-based software provider to turn your mobile phone into a universal controller and backed by software provider Compuware’s corporate venturing unit, has raised $1m in its series B round.
Venture capital firm Detroit Venture Partners led the B round, while Compuware Ventures and angel investors invested in iRule’s $500,000 A round last year.
Paul Czarnik, chief technology officer at Compuware, joined IRule’s board at that time but the company’s spokesman said it did not participate in the B round of funding for IRule.
Eric Kushner, director of marketing strategy at Compuware, by email added: “It has nothing to do with our confidence in iRule, their outlook or marketing opportunity, however, and has everything to do with measures underway at Compuware Corporation to reduce operating expenditures as detailed in our statement dated Jan 25, 2013.
“As a result, while we are honoring commitments already made, for the time being we are discontinuing additional Compuware Ventures-related activities.”