SimScale, the Munich-based SaaS startup, has raised €27 million in Series C funding to grow its cloud-based engineering simulation tool. The round was led by Insight Partners with participation from Earlybird and other existing investors.
In computer-aided engineering, simulation software is used to validate designs, test performance and durability, and generally improve the efficiency of any project.
As a cloud-based platform, SimScale is more flexible than traditional, on-premise simulation tools. Engineers can conduct key simulations, such as computational fluid dynamics and finite element analysis, without the need for expensive hardware or complicated software. Users can complete iterative design processes using just a standard web browser.
Plus, like with any good SaaS product, teams can share and collaborate on their projects in real time.
“SimScale’s platform has minimized the barriers that prevented many engineering firms from using or scaling simulation,” said Joshua Fredberg, operating partner at Insight Partners. “Simulating designs is now possible for engineers who previously believed such capabilities were out of reach.”
The German company, originally a spin-off from the Technical University of Munich, will use the latest investment to expand globally.
“SimScale is proud to have brought cloud-based simulation to engineering teams worldwide,” said David Heiny, CEO. “The current Series C funding round marks the next phase of SimScale’s growth, as we empower more customers to produce better designs faster.”
Hendrik Brandis of Earlybird commented: “As a financial investor we are strongly convinced that SimScale has the potential to disrupt the industrial simulation market by making simulations more iterative and efficient. We are proud to support SimScale on their promising journey from the early beginning.”