Founded in 2012, SimScale is the world’s first production-ready SaaS application for simulation. Recently, the company has secured €27 million in Series C funding led by Global venture capital and private equity firm Insight Partners.
Other participants include Earlybird, Union Square Ventures, June Fund, Vito Ventures, Bayern Kapital, and High-Tech Gründerfonds. The company will use this investment to accelerate the expansion of its cloud-based computer-aided engineering (CAE) platform for customers and grow global operations.
For the uninitiated, SimScale provides computational fluid dynamics (CFD) and finite element analysis (FEA) simulation via the cloud, eliminating the hurdles that often accompany traditional, on-premises simulation tools.
Through this, the company helps customers cut the cost of expensive hardware and software maintenance fees. Also, SimScale offers parallel processing of multiple designs, allowing customers to identify those that are best-performing quickly. Engineers seeking to make their design processes more iterative can simulate their designs using only a standard web browser.
David Heiny, CEO of SimScale:
SimScale is proud to have brought cloud-based simulation to engineering teams worldwide. We’re thrilled to welcome the team from Insight Partners to SimScale’s journey. This investment marks the next phase of SimScale’s growth, as we empower more customers to produce better designs faster.
Based out of Munich, Simscale has offices in New York, and Boston as well.
Main image credits: SimScale
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