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RapidMind lands $10M in venture funding

Canadian software company RapidMind announced yesterday it has closed 10M USD in venture funding. This round was led by Ventures West Capital Ltd. and included EdgeStone Capital Partners and existing investor BDC Venture Capital.

The RapidMind Development Platform is targeted at software developers trying to get the best performance out of multi-core and stream processors such as GPUs and the Cell BE.

“RapidMind is leading the charge to solve one of the technology industry’s biggest and most complex challenges,” said Ray DePaul, President and CEO of RapidMind, referring to the looming software development problem faced by companies and users targeting applications for these platforms.

Begun as Serious Hack Inc. to commercialize unique technology that was developed at the University of Waterloo in Canada, RapidMind announced its name change on Mar 1 of last year and closed its first round of venture funding March 14, 2006 with capital firm BDC Venture Capital.

You can find out more about the company and it’s products here.

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