Next-generation engineering design firm nTopology has secured $ 65 million in a new round of Series D funding led by New York-based investment firm Tiger Global Management. Other participants in the round include New York-based growth capital firm Oldslip Group, as well as existing investors Root Ventures, a early stage California-based deep tech firm that invests in technical teams; early-stage venture capital firm Canaan Partners; the aberrant founders Haystack; and New York-based global venture and private equity firm Insight Partners. The funds will support the expansion of its design platform into new international applications and markets and bring its valuation to more than $ 140 million.
After raising more than $ 10 million between 2016 and 2017, the company raised $ 20 million in 2019 through a Series B funding round led by California-based Canaan Partners. Again, in 2020, it raised $ 40 million from Insight Partners to further develop its advanced engineering software, making it accessible to more engineers. Overall, nTopology has racked up $ 135 million, making it one of the top contenders for 3DPrint.com’s unicorn status.
Founded by Bradley Rothenberg and Greg Schroy in 2015, the company helps engineers create lightweight, optimized parts with their built-in functional requirements, overcoming design bottlenecks in product development. Its flagship software, nTop Platform, was released in 2019, providing control over all models and usable in a wide range of applications, including aerospace, automotive, medical and consumer products.
“Earlier in my career, I discovered that most engineering software, like CAD, was a bottleneck in driving innovative design. Our company was uniquely designed to solve the problems of engineers, allowing them to fully utilize the power of additive manufacturing processes and fill in the gaps left by these old legacy design tools, ”says Rothenberg, who is also CEO of nTopology .
Over the past 12 months, the company has experienced immense growth, doubling its revenue and increasing its workforce by approximately 40%. The team also has an impressive partnership with 3D printing leader Stratasys, who are now working together to improve efficiency and increase productivity in the factory through the nTopology platform.
Today, the 3D printing software specialist works with more than 300 customers including Ford, Lockheed Martin, Honeywell, Emerson and Wilson to provide their engineers with the next generation of design tools. The company’s technology builds on the future of product development by capturing the design process and combining it with robust compute workflows, enabling businesses to reduce costs and time spent on design. obsolete computer aided (CAD).
Focused on a mission of providing various industries with the tools necessary for advanced manufacturing, nTopology claims to understand that many companies still face supply chain disruptions and believes their solution is helping alleviate many of these. challenges. In April, the company released nTopology 3.0, which introduced graphics processing unit (GPU) acceleration to reduce the time to view very complex structures from minutes to seconds.
For its collaboration with 3D printer maker Stratasys, nTopology sought to further automate the design of manufacturing aids and streamline the adoption of 3D printing for the plant. The new Stratasys and nTopology partnership incorporates the expertise of the 3D printing giant leveraging the rapid modeling, field-driven design and reusable workflows of nTopology’s nTop Platform engineering software. The goal is to provide industry with the combined tools to achieve true design for additive manufacturing, paving the way for widespread adoption of manufacturing.
Its FDM Fixture Generator tool automates 90% of the design work required for jigs and simple fixtures. At the same time, their most recent collaboration, the Masking Fixture Module, eliminates the need for manual masking techniques. Additionally, the company recently released a connector that streamlines the integration of nTopology with PLM systems, giving enterprise customers a clear roadmap for enhancing their product development software stack with powerful generative design capabilities.
The new capital will be ideal for expanding the range of applications that nTopology serves in the product development process, strengthening its global footprint and growing its team. Tiger Global partner John Curtius said nTopology has become a “new leader” in engineering software as its customers use this software to design the most critical parts of their products. Serving hundreds of customers already, the brand wants to optimize its generative design capabilities to take full advantage of new hardware and improve parts where performance is critical.