UK-based Engineering SaaS startup DezineForce secures Series A funding

Peter — Mon, 17 Mar 2008 15:21:00 GMT

salesforce.com's Dr. Steve Garnett invests and joins A-list board

London - 17 March, 2008 - DezineForce (www.dezineforce.com), the UK-based design software as a service (SaaS) startup which provides subscription-based end-to-end engineering design, simulation and optimisation solutions to businesses of all sizes, today announced that it has successfully completed its Series A Funding round.

The Series A round was led by IQ Capital Partners LLP and included DN Capital Ltd, as well as several international angel investors with expertise in SaaS, including Dr. Steve Garnett of salesforce.com, who is also appointed to the board with a number of other high profile industry experts.

Garnett said: "There's no doubt that the SaaS model has now reached a level of maturity and trust that sees organisations flocking to use these services. The web now enables businesses to move away from the costly model of buying on-premises software with all the headaches of upfront investment, complex maintenance and a lifetime of IT support. DezineForce enables designers to focus on innovation and speed to market."

DezineForce's service, representing over 100 man-years of development by teams led by internationally-renowned professors at the University of Southampton, is based on industry-standard design and simulation tools blended with the company's own patented optimisation technology. Incorporating advanced workflow guidance, the web-based subscription-based service is delivered from DezineForce's own secure, high-performance grid computing cluster, enabling rapid turnaround of computationally-intensive analyses on stress-tested commodity hardware.

Dr. Peter Collins, CEO of DezineForce, said: "This on-demand SaaS model will enable DezineForce to reach a global customer base of small and large engineering companies alike. This solution provides high quality services to all in the market, enabling organizations both in the UK and abroad to access technology with an ease and at a cost level never before experienced."

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UK-based Engineering SaaS startup DezineForce secures Series A funding