JMI Equity has led a $12 million growth investment in Axeda, a cloud-based service and software company already backed by JMI. Wipro (NYSE: WIT) and Mitsui USA joined in the financing. Axeda's software and services help its clients manage connected products and implement M2M applications. Concurrent with the financing, the company has appointed Todd DeSisto as president and CEO. He served as Axeda's CFO and COO prior to the promotion.