Press Release
Press Release
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
07.10.20
SAN DIEGO – Pillsbury client MemComputing, Inc., a developer of disruptive high-performance computing technology, announced that Revolution's Rise of the Rest Seed Fund is the latest investor in the company, joining other institutional investors such as IT-Farm. The latest investment brings the company's total funding to over $3 million and helps the company accelerate its product development and expand its sales and marketing efforts.
MemComputing continues to gain momentum during the COVID-19 pandemic with steady growth with customers in oil and gas, transportation logistics, and the Department of Defense. With additional funding, MemComputing plans to roll out advanced features to the MemCPU™ XPC SaaS and begin developing its first Application Specific Integrated Circuit.
The Pillsbury team was led by Mustapha Parekh, and included Christian Salaman and Martin Bridges, all in San Diego.