SpaceClaim Gets Additional $7M Funding
 CONCORD,
MA, Mar 31, 2009 - SpaceClaim, provider of the world’s fastest and most
innovative 3D Direct Modeling solutions, today announced that the company has
secured an additional $7 million in funding to support ongoing R&D in product
innovations, and to drive sales and marketing expansion as the demand for direct
modelers increases for the performance of conceptual design, engineering
analysis, and simulation-driven design.
The round is co-led by existing investors including Borealis Ventures,
Kodiak Venture Partners, Needham Capital Partners, and North Bridge Venture
Partners. SpaceClaim recently announced the fourth release of the company’s
products, SpaceClaim Engineer and SpaceClaim Style and has experienced rapid
momentum as organizations realize the benefits of providing powerful, yet
easy-to-use, 3D tools for engineers and industrial designers.
“We are extremely gratified that our investment team continues to see the
enormous market opportunity for SpaceClaim as leading engineering and product
development companies choose our 3D Direct Modeling solutions to increase
innovation, improve collaboration, and shorten time-to-market,” said Chris
Randles, President and CEO of SpaceClaim. “There is significant demand for
accessible and cost effective 3D tools with only an estimated 10 to 20 percent
of engineers worldwide creating and editing directly in 3D. Our 3D Direct
Modeling solutions complement existing investments in CAD tools and drive new
levels of innovation throughout the product lifecycle. This new round of funding
will help us to continue to meet the market requirements and develop new
customers and channels.”
“SpaceClaim continues to strengthen its market position, ranging from the
addition of Chris Randles to the management team to defining and advancing the
market for 3D Direct Modeling,” said Rich D’Amore, Partner, North Bridge Venture
Partners. “Targeting an underserved global market, SpaceClaim is the right
solution at the right time as evidenced by the company’s growing customer base
and expanding distribution network. We feel the company is poised for the next
stage of growth and has a commanding lead over competitive solutions with its
technology and experience.”
“Kodiak has a long track record in building market leaders and SpaceClaim is
no exception,” said Lou Volpe, Managing General Partner, Kodiak Venture
Partners. “Seldom does one company bring together such industry visionaries and
market makers. SpaceClaim has created the most significant technology
advancement in 3D engineering in more than 10 years and is in the best position
to leverage the market opportunity. The company’s products simplify complex
challenges in product design and development, a priority for successful
companies, even in this economic environment.”
The World’s Most Advanced 3D Direct Modelers
SpaceClaim Engineer is a fast, simple, and powerful 3D direct modeler for
top-down design, 3D layout, conceptual engineering, and model preparation for
simulation and analysis. SpaceClaim interoperates with major CAD systems and
with many analysis tools, providing a solution that bridges the gap in typical
design and engineering workflows. Analysis often occurs at the end of a detailed
design process, further delaying the design cycle, escalating costs, and slowing
time-to-market. SpaceClaim Engineer relieves these issues by ensuring
collaboration early in the design process.
SpaceClaim Style brings 3D design to industrial designers and product
stylists and enables them to work collaboratively with their clients and the
entire development team. SpaceClaim Style is a rapid creation environment that
helps realize new ideas and convert hand-drawn, 2D, and surface data to accurate
solid models. Benefits include faster design ideation, easier design
manipulation, and reusable deliverables.
About SpaceClaim
SpaceClaim provides the world’s fastest and most innovative 3D Direct
Modeling solutions. Led by a world-class team of executives and developers with
deep experience in bringing new 3D and design software to market, including
pioneers of 3D modeling, SpaceClaim has created a quantum leap in engineering
productivity, delivering accessible 3D solid modeling to engineers, CAE
analysts, industrial designers, and anyone who wants to contribute to the
product development process. SpaceClaim is privately held and backed by North
Bridge Venture Partners, Kodiak Venture Partners, and Borealis Ventures.
For more information, visit
www.spaceclaim.com.
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See Also
SpaceClaim
website
MCAD Programs -
list by TenLinks.com
Additional News
Nov 17 - SpaceClaim 2009+ Creates 3D Models for Simulation
Sep 09 - ANSYS to Offer SpaceClaim Modeling with v12.0
Jul 21 - SpaceClaim Shows Multi-Touch Interface
Jul 14 - SpaceClaim Announces Direct Modeling Challenge
Mar 31 - SpaceClaim Gets Additional $7M Funding
Feb 17 - SpaceClaim Advances 3D Direct Modeling for Product Design
Sep 30 - Chris Randles Replaces Michael Payne as SpaceClaim CEO
Source: Material used in press releases is often supplied by external
sources and used as is.
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