Pangea raises $15M in capital,fills product development post
Pangea Systems (Oakland, CA) has raised $15 million in a financing round that will provide funds for development and marketing of the firm’s next-generation bioinformatics software.
The funds were raised from an investor group that included lead investors Boston Millennia Partners and MDS Capital, as well as existing investors Institutional Venture Partners, Mayfield Fund, and Kleiner Perkins Caufield & Byers. In conjunction with the financing, Tom Penn, a principal at Boston Millennia, has joined Pangea’s board of directors.
In other company news, Pangea announced the appointment of Ronald Griffith, PhD, as senior vice president of product development. Griffith previously held a similar post with Harbinger Corp., and has more than 35 years of engineering experience, including service with Bell Labs, ADP Claims Solution Group, Oracle and Unisys.
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