Fundraising Fox
Phase Change Software
Lakewood, US · Colorado LLC
Find your way into Phase Change Software
Sign up to see every warm intro you have to Phase Change Software
- Paths you didn't know you had: your email and LinkedIn already hold routes to the Phase Change Software team. We find them for you
- 2nd- and 3rd-degree connections: the friend-of-a-friend routes that take hours to manually find through your inbox or LinkedIn
- Answers now, not in days: momentum is everything in a raise. Skip asking around whether someone knows someone
Days of research, done the moment you sign in, with every route ranked by how warm it is.
Phase Change Software develops a knowledge graph platform using symbolic AI to analyze enterprise software assets and decode business logic embedded in legacy code systems like COBOL. The platform serves enterprises in regulated industries that manage complex software systems, offering verified facts rather than probabilistic outputs.
Founders & leadership
SB
Steve BucuvalasFounderSteve Bucuvalas holds an undergraduate degree in biology from Harvard College and spent his early career leading advanced technology groups at corporations working on ATM networks, database systems, and mainframe security. He later ran an AI group developing expert systems for financial services, transitioned to founding his own technology organizations in the 1990s, and now serves as Chief Technologist at Phase Change Software.
ER
ELIZABETH RICHARDSDirector of OperationsElizabeth Richards is an executive officer at Phase Change Software, where she oversees operations and manages business affairs for a startup developing knowledge graph technology for legacy software analysis.
DM
Dave MuirheadExecutive
AS
Alan StraitExecutive
GB
Gary BrachCEOGary Brach is CEO of Phase Change Software, which builds a knowledge graph platform using symbolic AI to analyze legacy software systems. He has over thirty years of executive leadership experience across multiple SaaS organizations.
Board
MB
Mark BielerBoard director
JD
JEFFREY DIGGINSBoard director
DP
Donald PeskinBoard director
HC
Howard CulangBoard director
MY
Melvin YellinBoard director
Reported raises · per SEC filings
Form D private placements$39.1M disclosed across 20 rounds · 2011–2026
▶$9.2KraisedJan 2026 · 3 investors · Other TechnologyRule 506(b)
▶$9.2KraisedJan 2026 · 3 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- JEFFREY DIGGINSDirector
- DONALD PESKINDirector
- GARY BRACHExecutive Officer, Director
- MARK BIELERDirector
- ELIZABETH RICHARDSExecutive Officer
- BRADFORD CLEAVENGERExecutive Officer
- HOWARD CULANGDirector
- ALAN KUCHECKExecutive Officer
- Offering amount
- $5M
- Amount sold
- $9.2K
- Proceeds to insiders
- $800K
- First sale
- Jan 2026
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$1.1MraisedJan 2025 · 5 investors · Other TechnologyRule 506(b)
▶$1.1MraisedJan 2025 · 5 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- MARK BIELERDirector
- JEFFREY DIGGINSDirector
- GARY BRACHExecutive Officer, Director
- HOWARD CULANGDirector
- ELIZABETH RICHARDSExecutive Officer
- DONALD PESKINDirector
- Offering amount
- $8M
- Amount sold
- $1.1M
- Proceeds to insiders
- $606.5K
- First sale
- Jan 2025
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$4.8MraisedJan 2025 · 12 investors · Other TechnologyRule 506(b)
▶$4.8MraisedJan 2025 · 12 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- ELIZABETH RICHARDSExecutive Officer
- MARK BIELERDirector
- GARY BRACHExecutive Officer, Director
- HOWARD CULANGDirector
- DONALD PESKINDirector
- JEFFREY DIGGINSDirector
- Offering amount
- $8.7M
- Amount sold
- $4.8M
- First sale
- Dec 2024
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$5MraisedNov 2024 · 27 investors · Other TechnologyRule 506(b)
▶$5MraisedNov 2024 · 27 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- MARK BIELERDirector
- ELIZABETH RICHARDSExecutive Officer
- JEFFREY DIGGINSDirector
- DONALD PESKINDirector
- HOWARD CULANGDirector
- GARY BRACHExecutive Officer, Director
- Offering amount
- $12.5M
- Amount sold
- $5M
- Proceeds to insiders
- $907.7K
- First sale
- Dec 2023
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$7.9MraisedApr 2023 · 35 investors · Other TechnologyRule 506(b)
▶$7.9MraisedApr 2023 · 35 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Gary BrachExecutive Officer, Director
- Howard CulangDirector
- Mark BielerDirector
- Elizabeth RichardsExecutive Officer
- Donald PeskinDirector
- Melvin YellinDirector
- Offering amount
- $12.6M
- Amount sold
- $7.9M
- Proceeds to insiders
- $962K
- First sale
- Oct 2021
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$6.2MraisedMar 2021 · 46 investors · Other TechnologyRule 506(b)
▶$6.2MraisedMar 2021 · 46 investors · Other Technology
Rule 506(b)Officers, directors & promoters on the filing
- Donald PeskinDirector
- Howard CulangDirector
- Gary BrachExecutive Officer, Director
- Melvin YellinDirector
- Stephen BrothersExecutive Officer
- Mark BielerDirector
- Steven P.C. BucuvalasDirector
- Offering amount
- $7.5M
- Amount sold
- $6.2M
- Sales commissions
- $25K
- Proceeds to insiders
- $460K
- Placement agents
- Castle Placement, LLC
- First sale
- Jul 2020
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06b
▶$300KraisedMay 2020 · 4 investors · Other TechnologyRule 506(c)
▶$300KraisedMay 2020 · 4 investors · Other Technology
Rule 506(c)Officers, directors & promoters on the filing
- Mark BielerDirector
- Donald PeskinDirector
- Steven P.C. BucuvalasExecutive Officer, Director
- Howard CulangDirector
- Gary BrachExecutive Officer, Director
- Stephen BrothersExecutive Officer
- Melvin YellinDirector
- Offering amount
- $4M
- Amount sold
- $300K
- Sales commissions
- $160K
- Proceeds to insiders
- $325K
- Placement agents
- Castle Placement, LLC
- First sale
- Apr 2020
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06c
▶$100KraisedDec 2019 · 1 investors · Other TechnologyRule 506(c)
▶$100KraisedDec 2019 · 1 investors · Other Technology
Rule 506(c)Officers, directors & promoters on the filing
- Stephen BrothersExecutive Officer
- Donald PeskinDirector
- Mark BielerDirector
- Gary BrachExecutive Officer, Director
- Howard CulangDirector
- Steven P.C. BucuvalasExecutive Officer, Director
- Melvin YellinDirector
- Offering amount
- $2.7M
- Amount sold
- $100K
- Sales commissions
- $84.5K
- Placement agents
- Castle Placement, LLC
- First sale
- Dec 2019
- Incorporated
- Limited Liability Company, Colorado
- Federal exemptions
- 06c
Source: SEC EDGAR Form D. Amounts as filed; amended filings shown once at their latest values.
Related companies · 4
AmogyAmogy develops patented ammonia cracking technology that converts ammonia into electric power for hydrogen fuel cells and engines, targeting decarbonization of heavy industries including transportation and maritime. The company offers modular ammonia-to-power systems and high-efficiency catalysts as alternatives to diesel and hydrogen fuel solutions.
AnthropicAnthropic is an AI safety research company that builds reliable, interpretable, and steerable AI systems. The company conducts frontier AI research, applies safety techniques, and deploys systems through products and partnerships.
StartuphubStartupHub.ai is an open data and intelligence directory covering AI-ecosystem companies, founders, and capital, accessible to both people and AI agents. It offers a free browsable database of AI startups, with paid tiers for API, MCP, and bulk-export access.
Ask ClaudeClaude is Anthropic's conversational AI assistant, available at claude.ai on web, desktop and mobile plus a developer API.
Companies working in the same space as Phase Change Software.
Frequently asked questions
- What does Phase Change Software do?
- Phase Change Software develops a knowledge graph platform using symbolic AI to analyze enterprise software assets and decode business logic embedded in legacy code systems like COBOL. The platform serves enterprises in regulated industries that manage complex software systems, offering verified facts rather than probabilistic outputs.
- Who founded Phase Change Software?
- Phase Change Software was founded by Steve Bucuvalas.
- How much funding has Phase Change Software raised?
- Phase Change Software has disclosed $39.1M raised across 20 rounds.
- Where is Phase Change Software headquartered?
- Phase Change Software is headquartered in Lakewood, US.