Things are accelerating at Phoenix.

The Monona, WI-based business, which manufactures particle accelerator-based neutron generators and other machines, has outgrown its current headquarters and plans to break ground on a new home next year, says vice president of business development Evan Sengbusch.

Phoenix, which recently shortened its name from Phoenix Nuclear Labs, also plans to add about 30 new employees to its current 56-person team by the end of 2018, Sengbusch says.

The company has raised a $12 million round of financing to support the expansion. New York-based Deerfield Management led the Series B funding round, Sengbusch says. The other investors included several Wisconsin-based funds that had previously backed Phoenix, he says. The company has raised a total of about $18 million in outside investment since launching in 2005, Sengbusch says. Read the full story here.