Comet Solutions™, Inc., a leading provider of software that enables early simulation to drive innovative product development, announced that it has raised an additional $2 million in the final tranche of its Series A funding. Dan Meyer, president of Comet Solutions, stated , “We obtained this additional financing from our existing investors as a result of the company’s performance last year in achieving goals related to product delivery and customer acceptance.” Chad Brownstein, Managing Partner at ITU Ventures observed, “the Comet team has developed a leading PLM solution and we are very enthusiastic about their current prospects.”
Comet Solutions’ investor group includes Flywheel Ventures, Fort Washington Capital Partners Group, ITU Ventures, and New Mexico Angels, Inc. Flywheel, Fort Washington and ITU all have significant backing from the New Mexico State Investment Council’s regional private equity program. The program has helped New Mexico become one of the fastest-growing regions for technology entrepreneurship in the nation. “We are pleased that Comet continues to leverage the plentiful resources within the State of New Mexico to build a best-in-class product and management team” stated Jonah Schnel, Managing Partner at ITU Ventures.
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