Dezineforce is the latest business in the cloud computing space to receive funding as it closed the second tranche of £1.8m Series A round.
Money can from venture capital firms IQ Capital Partners and DN Capital, as well as Dr Steve Garnett, dezineforce board member and chairman of cloud computing champion, salesforce.com.
Southampton-based dezineforce provides an engineering design optimisation service available on-demand over the Internet and on a subscription basis. The service gives design engineers access to design optimisation tools, high-performance cluster computing and simulation applications for structural, fluid dynamics and mechanism analysis.
Steve Garnett said: “The SaaS (software as a service) model has now reached a level of maturity and trust that sees organisations flocking to use these services. dezineforce enables product design and engineering companies to move away from the costly model of buying in software with all the headaches of upfront investment, complex maintenance and a lifetime of IT support. dezineforce halves the cost of computer-aided engineering and enables designers to focus on innovation and getting better products to market faster.”