"SpaceClaim continued to execute against its vision of bringing powerful, easy-to-use and CAD-neutral 3D to engineers in 2011. We introduced two major releases of SpaceClaim Engineer, adding new capabilities that have expanded the range of users and design applications we can support. SpaceClaim Engineer is now in its 8th release, making it the most mature direct modeling application for engineering. With over 70% of users mastering the product without classroom training, SpaceClaim Engineer is also delivering the lowest total-cost-of-ownership in the professional market," said Chris Randles, SpaceClaim President and CEO. "To increase our reach across market segments and geographies, we more than doubled the number of our authorized resellers to over 100, which was a key factor driving our 110% growth in license sales. We also added several new strategic OEM partners who are bringing innovative applications to market and driving adoption of SpaceClaim in vertical markets."
The SpaceClaim reseller channel has expanded with the addition of resellers who specialize in 3D design, CAE, CAM and manufacturing solutions. "By adding SpaceClaim Engineer to our portfolio, we are addressing an immediate market need for a 3D tool that dramatically reduces the time and effort needed to prepare geometry for CAE analysis and manufacturing," said Benno Wolter, President of Germany-based WDS. "We're thrilled to get in on the ground floor of this exciting and transformational 3D Direct Modeling product because traditional parametric CAD systems are just too complex and expensive to be used effectively by engineers in the manufacturing environments we serve."
In addition, the company announced that it has completed its Series D financing, raising a total of $11Million to fund the company's investment in R&D and continue the expansion of its global sales channels. Funding for this round came from the same group of investors that have been involved with the company since its founding at the end of 2005. Institutional investors in SpaceClaim include North Bridge Venture Partners, Kodiak Venture Partners, Borealis Ventures, and Needham Capital.
"SpaceClaim continues to have a major impact in engineering software with adoptions by global industrial companies and mid-market manufacturers alike," said Rich D'Amore, Partner, North Bridge Venture Partners. "We are pleased to continue as lead investor in the company as we see SpaceClaim Engineer changing the landscape of 3D design and delivering outstanding return on investment to its customers. SpaceClaim is making the right investments to ensure that it expands the market for 3D and remains the company to beat in direct modeling."
SpaceClaim announced several new partnerships in 2011, including direct integrations with CAE providers COMSOL (LiveLink for SpaceClaim), Noesis Solutions (Optimus), ESTECO (modeFRONTIER), Comet (Comet Performance Engineering Workspace), as well as a direct integration with Geomagic Studio 2012. SpaceClaim also announced new OEM agreements with C&R Technologies, which provides comprehensive solutions software for heat transfer analysis and fluid flow design, and ITP, which provides a complete thermal analysis solution to the aerospace industry.
Supported by two major product releases ( SpaceClaim 2011 and SpaceClaim 2011+) in 2011, SpaceClaim Engineer helps designers and engineers address a wide variety of geometry challenges not addressed by traditional, feature-based CAD. In particular, SpaceClaim is the best 3D software solution for model preparation for CAE, CAM, and rapid prototyping, bid and concept modeling, reverse engineering, and sheet metal design. SpaceClaim's neutrality allows it to work well with data from all of the major CAD and 3D design systems, and its clean-up tools breathe new life into neutral formats such as JT, STEP, 3D PDF, and IGES.
About SpaceClaim Corporation
SpaceClaim, the leading provider of 3D Direct Modeling software, provides a complete solution for engineering and manufacturing organizations to innovate faster, win more business, and get products to market faster. SpaceClaim's acclaimed software is easy to learn and use and is completely CAD-neutral. It enables engineers and other manufacturing professionals to rapidly create new designs or manipulate and edit existing 2D and 3D geometry, without the complexity of traditional CAD. Customers include Toyota Motor Corporation, Nokia Siemens Networks, Bosch, TE Connectivity, BorgWarner, Medtronic, Lotus Cars, Sharp, Ford Motor Company, LG Electronics, Eaton, K2 Medical Systems, FuelCell Energy, Emhart Glass, GE Aviation, Carl Zeiss, General Dynamics, and the U.S. Navy. SpaceClaim is privately held and backed by Borealis Ventures, Kodiak Venture Partners, North Bridge Venture Partners, and Needham Capital. For more information on SpaceClaim, please visit www.spaceclaim.com.
Contact: Bernie Buelow SpaceClaim Corporation (978) 482-2211 Email Contact