Markforged raises $82 million in funding round for AM industrialisation
March 20, 2019
Markforged, Watertown, Massachusetts, USA, reports that it has closed an $82 million Series D round of funding led by investment firm Summit Partners with participation from existing strategic and financial partners, including Matrix Partners; M12, Microsoft’s Venture Fund; Next47; and Porsche SE. The company stated that it will use the additional capital to help accelerate its product roadmap, including the introduction of mass-production Additive Manufacturing systems and new materials.
The capital will also be used to enhance the company’s global expansion plans and strengthen its foothold among global manufacturers. Greg Mark, CEO and co-founder of Markforged, stated, “We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Michael Medici, a Managing Director at Summit Partners and member of the company’s Board of Directors, stated, “We have been actively monitoring the Additive Manufacturing market for the last decade and are excited to partner with the Markforged team. Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”
Since its founding in 2013, Markforged has amassed a large installed base among manufacturers and other types of businesses that benefit from additive capabilities. The company reportedly shipped more than 2,500 industrial printers in 2018, and serves customers in more than 50 countries. It has filed for 133 patents, with 38 already issued.
