TherMark Holdings, Inc. (www.thermark.com), a developer of laser-marking technology, today announced the completion of its $1.7 million series A round of financing led by Pasadena Angels and Tech Coast Angels. The business accelerator, Momentum Venture Management (www.mvmpartners.com), worked closely with TherMark and the angel investors and will provide the company with its CEO, Matt Ridenour.
TherMark allows manufacturers to place photographic-quality serial numbers, part ID numbers, logos and other text on virtually any hard surface material, including glass, metal, ceramics and plastics. The company has several patents in North America and internationally. Current customers include automobile manufacturers, medical instrument makers, kitchen and bath ware makers, and companies in dozens of other industries.
"The number of uses for our product is unlimited," said Founder and Chairman Paul Harrison, who has more than 40 years experience in mechanical design and manufacturing engineering. "By securing this series A funding, we are now able to grow our business and bring great technology to the market. I firmly believe that we have a product that can have a major impact in industries ranging from automotive to computers to graphic design. Our backers have given us the financial support we need to transform TherMark from a great idea to a market winner."
According to Douglas M. Hayes, lead investor from Tech Coast Angels, "Our focus has always been on finding companies with great technology that have the potential to make a major impact in the marketplace. TherMark has a product that is not only at the cutting edge in terms of innovation, but also in terms of its utility in industries ranging from automotive to aerospace to construction. This investment is an exciting one for us, and we look forward to helping TherMark reach the next level."
"With the increasing demand from both industry and regulators for permanent, serial identification numbers on critical parts to reduce counterfeiting, the Pasadena Angels investors believe that TherMark has the right product at the right time," said Davis Thompson, the lead investor from the Pasadena Angels. "With the funding provided, the combination of Paul's knowledge and technology and Matt's management skills should create a company capable of explosive growth."
The TherMark technology is a patented laser-based process for quickly and permanently marking virtually any material with sequential marks that have both high contrast and high resolution. It does, in fractions of a second with a laser, what would normally take minutes or hours in an oven or a kiln. TherMark is doing for industrial marking and decoration what Xerography did for document copying 50 years ago; and, like Xerox, is helping companies around the world in a broad spectrum of industries.
About Pasadena Angels
Founded in 2000, the Pasadena Angels (www.pasadenaangels.com) is a group of experienced private investors who provide long-term human and financial capital to help build successful companies. Its members, with many years of collective leadership experience, provide the resources to ensure the success of its portfolio companies. The Pasadena Angels invests in early stage companies in a broad range of industries, including but not limited to high-tech companies, that have the potential to build sustainable and successful businesses.
About Tech Coast Angels
The Tech Coast Angels (www.techcoastangels.com) is the largest angel investor network in the United States and provides funding and guidance to more early-stage, high-growth companies in Southern California than any other venture capital, angel or other private equity group. Since its inception in 1997, TCA members have personally invested more than $66 million in 103 companies and have helped portfolio companies attract $613 million in additional capital, mostly from venture capital firms. As a value-add, seed and early-stage investment group, TCA offers companies much more than capital. Members also mentor and coach entrepreneurs, help recruit additional management, and provide access to institutional investors and strategic partners. TCA has more than 270 members in its four networks in Los Angeles, Orange County, San Diego and Westlake/Santa Barbara.
About Momentum Venture Management
Momentum Venture Management (www.mvmpartners.com) is a Los Angeles-based firm that helps early-stage companies achieve early business results and develop credibility in order to get funding and transform their ideas, technologies and products into sustainable, successful businesses.