San Clemente, CA, January 10, 2008 --(PR.com
)-- Multistat Inc., a leader in the next generation of design optimization, today announced the completion of its Series A funding from a group of investors led by Tech Coast Angels. This new funding will fuel growth through aggressive sales and marketing of the company’s flagship product, Multistat Visual Optimizer. In addition to the new funding, the company has also opened its new headquarters in San Clemente, California.
“Our recent funding and new offices put the final pieces in place for Multistat to accommodate a rapidly growing customer base, including high-volume growth through partnerships such as our recently announced participation in the Engineous component development program and the launching of Multistat Visual Optimizer Plug-in for Engineous iSIGHT-FD,” said Ralph Mayer, CEO, Multistat.
Multistat Inc. is focused on increasing the adoption of design optimization to shrink design cycle time, reduce material costs, and create products that are higher performance, more energy efficient, and more reliable. Multistat’s Visual Optimizer works in conjunction with exiting Computer Aided Design and Analysis tools to find those last few percentage points of improvement.
Multistat’s solutions bring to market breakthrough performance to existing optimization techniques, with benchmark results orders of magnitude faster than existing solutions. Multistat is helping companies lower costs, increase research efficiency, accelerate the R&D cycle through comprehensive optimization software and services. Multistat is used by aerospace, defense and automotive design companies as well as structural optimization and materials science research.
About Tech Coast Angels
Tech Coast Angels is the largest angel investor network in the United States, and provides funding and guidance to more early-stage, high-growth companies in Southern California than any other venture capital, angel or other private equity group.
For more information about Multistat, go to www.multistat.com
For more information about Tech Coast Angels, visit www.techcoastangels.com.