Tech

Lisa Cote has been promoted from controller to CFO at Constant AI, becoming the first person to serve in the role.

With the new funding, Rely plans to add to its engineering team with hires in New York and New England and strengthen network relationships with lenders and service providers.

David Foss was named board chair at the Portland-based provider of financial technology services to replace Melissa Smith, who will retain a board seat and remain as president and CEO.

Under pressure from 4.9% shareholder Impactive Capital, WEX has agreed to separate the roles of CEO and board chair and add three board nominees put forward by the New York-based hedge fund.

Over the past four quarters, the Westbrook-based maker of veterinary diagnostics and software has surpassed consensus earnings per share and revenue estimates four times.

A New York-based hedge fund that owns 4.9% of WEX's shares is pressing for changes on the fintech provider's board of directors.

Maine’s technology workforce is projected to grow 2.4% this year to more than 28,000 workers, according to a national report released this week.

Impactive Capital, a hedge fund that owns 4.9% of the Portland-based fintech provider, is calling for the ouster of some WEX board members, including Chair and CEO Melissa Smith, at next week’s annual shareholders meeting.

The Portland-based fintech services provider posted earnings and revenue that surpassed market expectations and urged shareholders to resist calls by an activist hedge fund for a board shakeup.

Blue Marble Geographics, a private equity-backed mapping software company based in Hallowell, aims to expand its product palette through the acquisition of Toronto-based Avenza Systems Inc..