MemComputing, Inc., a San Diego, CA-based developer of high-performance computing technology, raised a funding round of undisclosed amount.
Revolution’s Rise of the Rest Seed Fund is the latest investor in MemComputing, joining other institutional investors such as IT-Farm. The latest investment brings the company’s total funding to over $3m.
The company intends to use the funds to accelerate product development and expand its sales and marketing efforts.
Led by John Beane, CEO, and co-founder, MemComputing is a developer of high-performance computing technology. Its software-based MemCPU™ Coprocessors deliver quantum computing performance on any computer empowering companies to make optimal business decisions. The novel MemCPU™ Extreme Performance Computing (XPC) SaaS solves complex industrial computations associated with optimization, big data analytics and machine learning.
With additional funding, the company plans to roll out advanced features to the MemCPU™ XPC SaaS and begin developing its first Application Specific Integrated Circuit.