Engineering software developer nTopology has announced the closing of a $40 million Series C funding round led by Insight Partners, a NYC-based global venture capital and private equity firm. The significant investment, also supported by Grant Verstandig, Root, Canaan, DCVC and Haystack, will enable the rapidly growing company to expand access to its nTop Platform for advanced engineering design.
In addition to leading the funding round, Insight Partners has appointed a member of its team, Josh Fredberg, to nTopology’s Board of Directors, where he will join Carl Bass, the former CEO of Autodesk. Like Bass, Fredberg has extensive software industry experience, having worked with ANSYS and PTC.
Since launching its nTop Platform in 2019, nTopology has made significant strides: it opened its first European office in Germany, received an influential investment from CIA investment firm In-Q-Tel and has entered into many partnerships, all aimed at expanding its offering and client base. Today, the company says, its nTop Platform is used by hundreds of engineering companies and thousands of engineers to advance part and systems design in the aerospace, automotive, medical and consumer sectors.
nTop Platform is positioned as an advanced alternative to existing CAD systems, which are challenging to scale and are not optimized for AM’s benefits. The company says: “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 modeling technology and empower engineers to design transformative products.”
At the foundation of nTopology’s software are three key points: fast, unbreakable geometry, field-driven design and reusable workflows. Together, these pillars support engineers as they pursue next-gen and optimized design for AM and other advanced manufacturing processes. Thanks to its customizable workflows, engineering teams can easily collaborate and scale their systems, sharing their knowledge across the organization.
“Do we want to end up replacing traditional CAD? No, that’s not our purpose,” the company writes. “Rather, we expect engineers to use nTop Platform alongside existing systems, to solve new and hard problems that traditional CAD was never built for. Overcoming those challenges will enable engineers to innovate faster, create new solutions to pressing global issues and foster new markets. The types of problems that nTop Platform solves are more and more becoming a daily occurrence for all engineers. Closing this new round of funding will help make the most advanced engineering software accessible to all.”