Onshape
1 Alewife Ctr, Ste 130, Cambridge, MA, 02140, US
Overview
Onshape is a product development platform that unites CAD, data management, collaboration tools, and real-time analytics. Its modern CAD system eliminates design gridlock so professional engineers can do their best work. Onshape unites advanced modeling tools and design data management in a secure cloud workspace that is accessible on any device and never loses data. Professional engineers at thousands of companies rely on Onshape to modernize their design process. Onshape users have logged over 3 million hours modeling advanced robotics, biomedical devices, industrial machinery, and myriad other products. Founded in 2012 by the creators of SOLIDWORKS, Onshape has raised $169 million from Andreessen Horowitz, NEA, North Bridge, and other leading investors.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 4
Sector focus
- Analytics
- CAD
- Data Management
- Enterprise Software
- Mechanical Engineering
- Mobile
- SaaS
- Software
Investment portfolio
- CoLab
Participated · Series A · Oct 2021
CoLab offers a cloud-based collaboration platform that lets engineering teams review design files, capture and track feedback, and document issues from a single dashboard. Its tools integrate with enterprise systems like product lifecycle management and allow controlled sharing with suppliers while keeping select information private. Teams at Ford, Johnson Controls and Schneider Electric use CoLab to streamline design reviews and reduce administrative overhead. CoLab operates on a software-as-a-service model and stores customer design data such as 3D models and engineering drawings in the cloud. The company plans to introduce AI features in the coming months, using anonymized customer data to help explain design changes and automate routine tasks. Financially, revenue has doubled in the past six months, paid add-ons are planned this year and next, and the company plans to grow its headcount from 86 (mostly in its Newfoundland headquarters) to about 120 by year end. CoLab provides a web-based co-design and collaboration tool that lets teams share CAD, provide feedback with full mechanical context, and capture design data. The platform standardizes design reviews and simplifies collaboration to accelerate design cycles, drive continuous improvement, and reduce product costs and changes. Co-founded in 2017 by CEO Adam Keating and CTO Jeremy Andrews, the company is based in St John's, Newfoundland and Labrador, Canada. Its tool is used by Fortune 500 customers including Johnson Controls and Hyundai Mobis. CoLab raised $17M in a Series A round led by Insight Partners and plans to use the funds to accelerate the pace of engineering innovation and reinvent how teams collaborate on mechanical design. Josh Fredberg, Managing Director at Insight Partners, joined CoLab's board in conjunction with the financing.