Comet Solutions Closes $4M Series C Equity Funding Round
Comet Solutions, Inc., a Cincinnati, Ohio-based provider of software for model-based concept engineering starting early in the product design cycle, has closed a $4m Series C equity funding.
The round is being led by existing investor Athenian Venture Partners, with participation from new investor Sun Mountain Capital, current backer Tri-State Growth Capital Fund and several other new individuals.
The company intends to use the funding to expand resources and activities in sales, marketing, and customer support. Comet is increasing its sales and customer support teams adding new jobs to the offices in Albuquerque, NM, Cincinnati, OH, and Southfield, MI. It is also expanding international distribution into numerous global markets, including offices in China and distribution partners in Japan, as well as its product line.
Led by President and CEO Dan Meyer, the company provides an integrated conceptual modeling and collaborative process automation workspace in which engineering project teams evaluate design concepts vs. engineering requirements starting in the early stages of product definition and feasibility trade studies. It performs analyses through reusable, tool-neutral simulation templates powered by an Abstract Engineering Model®, which allows engineers and designers to gain insight into product performance earlier in the product design process and make better informed decisions.