iRise Claims Big Revenue Gains

Privately held, software visualization tool firm iRise, which is based in El Segundo, is claiming this morning that it has seen its software revenues for Q1 triple over last year. The firm said the big revenue gains follow a fiscal Q4 where its revenues surpassed its total 2007 revenues. Actual financial results for the privately held firm were not disclosed. iRise develops tools used by corporations to prototype and define their software projects before they are coded; the firm is venture backed by Morgan Stanley Venture Partners, Deutsche Bank, and others.