Mathsoft Secures New Round of Funding

CAMBRIDGE, Mass.—(BUSINESS WIRE)—March 9, 2005— Mathsoft today announced it has secured a $3 million follow-on investment from Edison Venture Fund to finance its development and deployment of calculation management solutions in engineering and product development organizations around the world.

Edison's investment in the company now totals $6.5 million, which includes Edison's 2001 funding of the management buyout that created the current Mathsoft. Mathsoft now sells products in more than 40 countries and is expanding direct sales and service organizations in North America and Europe. Customers include Bechtel, Intel, Lockheed Martin, NASA and Siemens.

"Edison's financial support and advice have been instrumental in fostering Mathsoft's growth and innovation, and this follow-on investment is critical in satisfying the intensifying demand for our calculation management solutions," said Mathsoft Chairman and CEO Chris Randles.

The company's recently announced Calculation Management Suite(TM) is a customizable solution for creating and centrally managing the engineering methods and values that represent product development and engineering designs. The Web-based suite lets engineers simultaneously design and document their work and centrally manage it for reuse, auditing, oversight, publishing and collaboration throughout the entire development process. The result is faster product development, higher product quality and easier compliance with regulations.

"Globalization and competitive pressures are pushing companies to innovate more often and bring products to market more quickly," stated John Martinson, Edison's managing partner and a member of Mathsoft's board of directors. "Many of these companies will succeed or fail based on how well they manage their quantitative engineering information, and we see Mathsoft helping them succeed."

About Edison Venture Fund

Established in 1986, Edison partners with entrepreneurs, service providers and other financing sources to build successful companies. Edison provides capital and value-added services to expansion-stage ($5 to 20 million revenue) information technology businesses. Initial investments range from $3 million to $5 million. Edison typically serves as a sole or lead investor in financings up to $10 million. In addition to providing expansion capital, Edison funds management buyouts, recapitalizations, spinouts and secondary stock purchases.

Edison's 18 investment professionals are based in three offices: Lawrenceville, N.J., Bala Cynwyd, Pa., and McLean, Va. Industry specialties include application software, education, financial services, healthcare and pharmaceutical, IT and electronics. Edison's successes include ACT!, Best Software, BTG, Dendrite, Eastern Telelogic, Gain Capital, InSoft, Visual Networks, Vocus, and many information technology leaders, which have a combined market value exceeding $5 billion. Edison currently has $420 million under management and is actively making new investments.

About Mathsoft Engineering & Education, Inc.

Mathsoft Engineering & Education, Inc. pioneered calculation management solutions that protect engineering innovation, investments and intellectual capital while improving organizational efficiency and productivity. Mathsoft software is the internationally recognized standard for technical calculations and applying mathematics. Ninety percent of Fortune 1000 companies, 500 government agencies and 2,000 colleges and universities around the world use Mathsoft to capture the strategic value in their engineering calculations. More information on Cambridge, Mass.-based Mathsoft is available at

Mathsoft and Mathcad are registered trademarks and Calculation Management Suite and Designate are trademarks of Mathsoft Engineering & Education, Inc. All other names are trademarks of their respective manufacturers. (C) 2005 Mathsoft Engineering & Education, Inc.

Bernie Buelow                                   
Mathsoft Engineering & Education, Inc.          

Email Contact                            
Stefanie Guzikowski            
Beaupre & Co. Public Relations, Inc.    

Email Contact

Review Article Be the first to review this article

Featured Video
System Designer/Engineer for Bluewater at Southfield, Michigan
Mid-Level Mechanical Engineer for Kiewit at lenexa, Kansas
Mechanical Engineer for Allen & Shariff Corporation at Pittsburgh, Pennsylvania
GIS Data Analyst for CostQuest Associates, Inc. at Cincinnati, Ohio
Geospatial Analyst/Programmer for LANDIQ at Sacramento, California
Software Developer for CHA Consulting, Inc. at Norwell, Massachusetts
Upcoming Events
Live SOLIDWORKS Event Hosted by Converge at 2482 Patterson Rd Unit 2 Grand Junction CO - May 22, 2018
ESPRIT World 2018 at Indianapolis Marriott Downtown 350 West Maryland Street Indianapolis IN - Jun 11 - 15, 2018
HxGN LIVE 2018 at The Venetian Las Vegas NV - Jun 12 - 15, 2018
IMTS2018 International Manufacturing Tech Show at McCormick Place Chicago IL - Sep 10 - 15, 2018
Kenesto: 30 day trial
SolidCAM: Break the Chains

Internet Business Systems © 2018 Internet Business Systems, Inc.
25 North 14th Steet, Suite 710, San Jose, CA 95112
+1 (408) 882-6554 — Contact Us, or visit our other sites:
AECCafe - Architectural Design and Engineering EDACafe - Electronic Design Automation GISCafe - Geographical Information Services TechJobsCafe - Technical Jobs and Resumes ShareCG - Share Computer Graphic (CG) Animation, 3D Art and 3D Models
  Privacy PolicyAdvertise