Comet Solutions Raises $2M in Series B Round of Funding
Comet Solutions, Inc., an Albuquerque, NM-based provider of software for fast concept modeling early in the product design cycle, closed a $2m series B round of funding.
The round was led by Athenian Venture Partners, with participation from Tri-State Growth Capital Fund and Kentucky Co-Investment Partners.
They join series A investors, which include Flywheel Ventures, ITU Ventures and New Mexico Co-Investment Partners.
Comet software is an integrated conceptual modeling and collaborative process automation workspace in which engineering project teams evaluate design concepts versus engineering requirements starting in the early stages of product definition and feasibility trade studies.
This new capital allows the company to expand sales, marketing and support activities related to the product line developed and improved through a $1.4m financing that Comet received from the Innovation Ohio Loan Fund in June 2009.