The second round of financial infusion of GroundMetrics was very successful. It closed with a US$1.5 million fund accumulation led by Tech Coast Angels. The other Southern California investors were Rancho Santa Fe Partners, La Costa Investment Group, Rady Venture Fund and Crescent Ridge Partners Ventures. In this second round, international investors from India, Cyprus, Great Britain and Dubai also showed interest.
Navid Alipour, Managing Partner at Analytics Ventures and Principal of La Costa Investment Group said, "GroundMetrics is a great example of what we look for, a fantastic team taking a disruptive technology to market."
For its part. GroundMetrics CEO George Eiskamp said, "I'm pleased but not surprised by the success of this round because real pull-through demand drove the formation of GroundMetrics. Our technology was not a solution in search of a problem. It was created in response to the world's largest oil and mining companies paying us to develop and demonstrate prototypes."
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