Valhalla Partners Invests $8M in Research Triangle CAD Software Company
Geomagic is a leader in Digital Shape Sampling and Processing market, founded by a proven entrepreneur with strong business skills who has shown her ability to lead the company through challenges.
Vienna, VA (PRWEB) November 10, 2008 -- Valhalla Partners (http://www.valhallapartners.com), a leading early-stage venture capital firm, announced today its $8M investment in Geomagic (http://www.geomagic.com), the leading software company in the Digital Shape Sampling and Processing (DSSP) market. Valhalla General Partner Scott Frederick has joined the Geomagic Board of Directors, and Valhalla Partner Kiran Hebbar is a Board observer. Geomagic is based in Research Triangle Park, North Carolina.
"Geomagic represents an ideal match for our investment philosophy," says Frederick. "The company has patented technology, market leadership, and a strong management team. Geomagic has demonstrated the ability to consistently increase revenue while maintaining a high level of profitability. We are thrilled to help Geomagic attain its next stage of growth.
"The Company's founder and CEO, Ping Fu, has built a great company," adds Frederick, "and has grown it to profitability through challenging times. Geomagic today has products with market leadership, great customers, and a deep team."
"We were drawn to the investment because our sector expertise in CAD software led us to see that the market is at the tipping point for adoption of 3-D design as the standard," adds Hebbar. "It's a shift for which Geomagic's DSSP solutions are perfectly primed and which will reward the company's market-leading products in a number of areas, including industrial applications such as automotive, aerospace, consumer goods and medical applications such as dental and orthopedics."
"The support of Valhalla Partners is another validation of our technology and the growing acceptance of the DSSP market category," says Ping Fu, Geomagic president and CEO. "We think the time is right to use our dominance in the early adopter market as a springboard into broader professional markets. Valhalla has the experience, integrity and industry know-how to help us build a great company."
About Geomagic
Geomagic Inc. (http://www.geomagic.com) is a worldwide software and services company headquartered in Research Triangle Park, N.C., with subsidiaries in Europe and Asia and distributors worldwide. More than 8,000 professionals in industries such as automotive, aerospace, medical devices and consumer products use Geomagic software and services. Applications include enabling mass customization with the same efficiency and cost as mass production, improving dental care with individually designed devices, speeding time to market for consumer products, automating inspection for better quality in dramatically less time, increasing safety for NASA shuttle missions, and optimizing design for everything from racing cars to blimps.
About Valhalla Partners
Valhalla Partners is a trusted partner and advisor to technology entrepreneurs in their quest to build world-class companies. Based in Vienna, Virginia, the firm's management team has made more than 120 investments over the past twenty years and produced almost $1 billion of investment proceeds. Valhalla prefers investments where the mission of the company is to innovate, challenge and fundamentally change the dynamics of new and existing markets. Investments by Valhalla's team include Advertising.com, BDMetrics, CareerBuilder.com, Clarify, EnterpriseDB, Epicor, Exchange Solutions, JumpTap, LeftHand Networks, Mobius, NextLink, Nirvanix, Progress Software, Proxicom, RealOps, Register.com, Riverbed Technologies, SafeNet, SEPATON, ServiceBench, Trilogy, and webMethods. Valhalla Partners brings the full power and network of its experienced team to every investment it makes, helping companies grow faster and smarter regardless of size or maturity.
For more information, go to http://www.valhallapartners.com.
For more information, press only:
Dan Gordon, 703-448-1400, dan @ valhallapartners.com
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