Tuesday, August 7, 2007

COADE Secures $42M from Insight Partners

Houston, Texas-based COADE Inc., a developer of plant design and engineering software for the process industries, announced Monday that it has received a $42 million investment from Insight Partners, a New York City-based venture capital firm. COADE said the money represents its first round of venture funding and will be used for product development, international expansion and strategic acquisitions. As a result of Insight Partners' investment, three representatives from that company will join COADE's board of directors. Peter Sobiloff, George McCulloch and Sarah Hass, have all joined COADE's board of directors. More information »