IntraStage Inc., a San Diego based provider of Quality Management software for the Electronics Manufacturing industry, today announced that it has secured its first institutional round of financing. The Series A capital investment was led by Tech Coast Angels (TCA) which is the largest network of Angel investors in the US.
IntraStage designs software to provide intelligence and analytics around improving product quality as the product progresses through its lifecycle stages of R&D, Supplier, Manufacturing and Field Operations. Already a revenue generating company with Fortune 1000 customers such as Motorola, Panasonic and Northrop Grumman, IntraStage will use the new round of financing to further build out its sales, support and R&D infrastructure.
“Weve essentially created Google Analytics for product quality test data said CEO Patrick Kelly.
“Electronics manufacturing companies may or may not know that they are already spending significant amounts of money on this problem of capturing and reporting on product test data. This can be through some internal ad-hoc software solution or just through the manual methods used by Test, Operations and Manufacturing Engineers to get the answers they are looking for. We estimate that up to $1B is being spent annually on this problem in the USA alone.
Bob Fried, former CIO of Staples and of other technology companies, who led the Tech Coast Angel round says “IntraStage is supplying a solution to a mission critical problem for companies who see quality as a differentiating factor in their product strategy. The time is right for IntraStage because its enabling technology can help a customer to achieve dramatic bottom line improvements in operations efficiency and product quality.
About IntraStage
IntraStage is an enterprise software provider for companies who design and manufacture electronic based products. Our software automates the retrieval, storage, mining and visualization of R&D, supplier and production test data. Our clients choose us because we seamlessly integrate test data from different sources, lower their product design, manufacture and return costs by finding quality trends more quickly and accurately. Fortune 1000 companies rely on us to keep them competitive when product quality and customer satisfaction are key differentiators.
About Tech Coast Angels (TCA)
TCA is the largest and most active angel investor group in the U.S., with more than 275 members and regional networks in San Diego, Orange County, Los Angeles, Westlake Village/Santa Barbara, and Riverside . TCA members have invested more than $100 million in 150 companies. These companies have gone on to receive more than $1 billion in follow-on financing from VCs and other partners. TCA is focused on funding technology ventures in California with its most recent success coming from the $1.8B IPO of Green Dot Inc. (GDOT), which was initially funded as a TCA start-up company.