iRise Raises $15.8M

El Segundo-based iRise has raised a late stage venture round of $15.8M from Morgan Stanley Venture Partners and other private investors. The company, which develops application simulation software used to simulate web and other applications without programming, said that it would use the funds for expanding sales, marketing, business development, and product efforts. Peter Chung of Morgan Stanley Venture Partners will join the company's board. Separately, the company said that Brooks Seawell of New Enterprise Associates will also be joining the board. More information »