Colab Raises $17M Series A To Modernize Collaboration For Mechanical Engineering Teams

Colab Raises $17M Series A To Modernize Collaboration For Mechanical Engineering Teams

10/19/21, 7:00 AM
Location
newfoundland
Money raised
$17 million
Round Type
series a
CoLab Software, the Newfoundland-based CoDesign platform for mechanical engineering teams, today announced that it has raised $17 million in Series A funding that will enable the company to double its 54-person team and bring the benefits of modern collaboration to even more design and manufacturing organizations. New York-based global private equity and venture capital firm Insight Partners led the round, with participation by new and existing VCs and strategic angels from industry heavyweights such as Xometry, Onshape, GrabCAD, Bosch, Tesla and Atlassian.

Company Info

Company
Co Lab Software
Location
newfoundland, newfoundland and labrador, can
Additional Info
CoLab is a web-based CoDesign and collaboration tool that lets your team share CAD, provide feedback with full mechanical context, and capture the critical design data that your other systems don't—giving you a design review and collaboration process that's standardized, simplified, and twice-as-fast. Today CoLab is trusted by Fortune 500 companies like Johnson Controls and Hyundai Mobis, who use the platform to accelerate design cycles by 51%, drive continuous improvement, and reduce product costs and changes. To see how CoLab modernizes the way engineers work together, visit colabsoftware.com