Aras, an Andover, MA-based provider of product lifecycle management software, secured $40m in funding.
The round was led by Silver Lake Kraftwerk with participation from GE Ventures.
The company intends to use the funds to expand operations – including its service and support – and further extend its technology through development and acquisitions.
Led by Peter Schroer, CEO and Founder, Aras provides enterprise Product Lifecycle Management (PLM) software and applications for manufacturers of complex, connected products to improve their product lifecycle processes and connect users in all disciplines and functions to critical product information and processes across the extended enterprise.
Customers include Airbus, BAE Systems, GE, GM, Hitachi, Honda, Kawasaki Heavy Industries, and Microsoft.