Cisco Backs OpTier

OpTier Inc., a New York-based provider of business transaction management technology, has raised an undisclosed amount of strategic funding from Cisco Systems. The deal comes after OpTier recently raised $15 million in third-round funding from Gemini Israel Funds, Pitango Venture Capital, Carmel Ventures and Lightspeed Venture Partners. OpTier has raised over $40 million in total VC funding since 2003.