Aras, an Andover, MA-based provider of open product lifecycle management (PLM) software for the enterprise, raised $70m in Series D funding.
The round was led by Goldman Sachs Private Capital Investing group with participation from Silver Lake Kraftwerk. As part of the transaction, Hillel Moerman and Holger Staude of Goldman Sachs will join Aras’ Board of Directors as a board member and as an observer, respectively.
The company intends to use the funds to expand global operations and grow its open PLM platform through in-house development and technology acquisition.
Led by Peter Schroer, CEO and Founder, Aras provides an open software platform and applications for manufacturers to 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.
Following the $40m investment round last September, Aras has:
– completed strategic acquisitions to grow its applications suite with the additions of Impresa MRO for in-service assets and Comet SPDM for simulation management;
– expanded global operations with offices in the United Kingdom and Italy;
– doubled office presence at its U.S. headquarters, and
– grown global employee headcount by more than 50 percent.