Simscale has closed a €27 million Series C round led by New York-based investor Insight Partners.
The Munich-based company offers a SaaS application that enables engineers to easily perform sophisticated 3D simulations via a web browser. In addition to Insight Partners, the existing investors Earlybird, Union Square Ventures, June Fund, Vito Ventures, Bayern Kapital, and High-Tech Gründerfonds participated in the financing round. The Munich-based company plans to use the capital to accelerate the expansion of its cloud platform and expand its global business.
“Simscale is proud to enable cloud-based simulations for development teams all over the world,”
says the CEO David Heiny.
"We are thrilled to welcome the Insight Partners team to Simscale's journey. This investment marks the next phase of Simscale's growth as we empower more customers to produce better designs, faster."
Simscale offers cloud platform for software simulation
The Munich-based company's platform offers simulations using computational fluid dynamics (CFD) and finite element analysis (FEA) in the cloud. Unlike traditional simulations on in-house computers, customers avoid hardware, software, and maintenance costs. Furthermore, multiple designs can be tested simultaneously, allowing users to more quickly identify those with the best performance. The platform runs via standard web browsers.
“Simscale’s platform has minimized the hurdles that have prevented many engineering firms from using simulation,”
says Joshua Fredberg, Operating Partner at Insight Partners.
"Now, engineers who previously thought such capabilities were beyond their reach can also simulate designs. We believe Simscale is well positioned to transform not only the audience for simulations, but also the way they are used in various fields of engineering."
