SimScale Closes €27 Million in Series C Financing Led by Insight Partners

Funding Rounds

▤ Summary

MUNICH--(BUSINESS WIRE)--SimScale, the provider of the world’s first production-ready SaaS application for engineering simulation, today announced that it has closed €27 million in Series C funding. SimScale will use this investment to accelerate the expansion of its cloud-based computer-aided engineering (CAE) platform for customers and grow global operations. By leveraging the power of the cloud, SimScale helps customers cut the cost of expensive hardware and software maintenance fees. As a growth equity investor, Insight is focused on providing capital and operating expertise to the best software companies and helping them scale. Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software companies that are driving transformative change in their industries.

$ Funding

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Amount $29.8M Total raised
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Date January 30, 2020 Announcement date
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Investors - Lead investors
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Company http://www.simscale.com/ Funded company

▥ Classifications

industries
Engineering
applications
AI & Machine learning

◇ AskAI Classifications

Labels
CAE Software SaaS Simulation Software

▦ Linked Companies

SimScale
$10M to $25M