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Print Edition StoriesTuesday, April 13, 2010
SpaceClaim claims $5M in new VC-backed funds
By Mass High Tech staff
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SpaceClaim Corp., a Concord-based CAD software company, pulled in $5 million in new financing from its backers Borealis Ventures, Kodiak Venture Partners, Needham Capital Partners and North Bridge Venture Partners.
The company plans to use the $5 million to help grow its global sales and support, SpaceClaim officials noted in a press release.
SpaceClaim develops 3-D direct modeling solutions – including the fourth-release of its products, SpaceClaim Engineer and SpaceClaim Style. The SpaceClaim Engineer modeler provides simulation and analysis tools for major computer-aided design systems, with the goal of instituting early design collaboration.
In March 2009, the company landed $7 million in funding to apply to its research and development, sales and marketing, engineering analysis and simulated design. SpaceClaim completed a $13.5 million Series B round of funding in 2007 from North Bridge and Kodiak, which also participated in the company’s $7.5 million Series A financing.
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