SimScale, a Munich, Germany-based provider of a production-ready SaaS application for engineering simulation, closed a €27m Series C funding.
The round was led by Insight Partners, with participation from existing investors Earlybird, Union Square Ventures, June Fund, Vito Ventures, Bayern Kapital, and High-Tech Gründerfonds. In conjunction with the funding, Joshua Fredberg, CAE software veteran and operating partner at Insight Partners, joined SimScale’s board of directors.
The company intends to use the funds to accelerate the expansion of its cloud-based computer-aided engineering (CAE) platform for customers and grow global operations.
Founded in 2012 and led by David Heiny, CEO, SimScale provides production-ready SaaS application for simulation. By providing instant access to computational fluid dynamics (CFD) and finite element analysis (FEA) to over 150,000 users, the company moves high-fidelity physics simulation technology from a complex desktop application to a user-friendly cloud application accessible via a subscription-based pricing model. SimScale has offices in Munich, New York, and Boston.