nTopology raises $40 million in latest funding round
September 14, 2020
Engineering software company nTopology Inc., headquartered in New York City, New York, USA, reports that it has raised $40 million in its latest Series C funding round.
The funding round was led by global venture capital and private equity firm Insight Partners, based in New York City, New York, USA, and nTopology’s existing venture partners Root, Canaan, DCVC, & Haystack.
The company states that Josh Fredberg of Insight Partners will join nToplogy’s board of directors along with Carl Bass, the former CEO of Autodesk.
Launched in 2019, the company’s nTop Platform empowers engineers to design revolutionary products and the software is said to be used at hundreds of engineering companies by thousands of engineers on their most advanced projects in the aerospace, automotive, medical, and consumer industries.
NTopology stated in a press release, “nTop Platform is our contribution to the engineering world. We’re relentlessly pursuing our goal to build the most powerful engineering software, eliminate bottlenecks in traditional modelling technology, and empower engineers to design transformative products.”
“Engineers from the aerospace and medical industries are currently leading the adoption and deployment of advanced manufacturing, so they were the first to realise the need of the powerful design tools offered by nTop Platform. We’re also seeing rapid adoption of our tools in the automotive, consumer, and manufacturing tooling industries.”
The company added, “Closing this new round of funding will help make the most advanced engineering software accessible to all.”
