More funds for Beach expansion

Beach Solutions has received $3 million in further second round funding.

Beach Solutions has received $3 million in further second round funding.

The funding has come from MTI Partners, Beach Solutions' lead investor and one of the UK's premier technology venture capital fund managers.

This brings the total for Beach's venture financing to $7.2 million.

The new funding will enable Beach Solutions to further expand its operations in the USA through the pursuit of a major account sales strategy that has been successfully proven in Europe.

Tom Jarman, an MTI Partner said: "We invested in Beach Solutions because the ESL market is very attractive from an investment point of view.

Dataquest foresees strong ESL growth, with a compound annual growth rate of 33.2% from 2002 to 2007.

This is the fastest growing market segment in the EDA sector.

Our latest investment allows the company to expand its market share with new sales and marketing objectives and to penetrate North America and Japan".

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