Industrial 3D printing software as a service (SaaS) platform 3YOURMIND has announced the closing of a successful $12 million Series A funding round. The company will be contributing the money to expansion of its U.S. customer base, and strategic entry into the Asian market.
The round was led by Unternehmertum Venture Capital Partners (UVC Partners) seeing investment from a number of strategic industry players, and total funding reaching $14 million.
Taking on the U.S.
The supporting statement from 3YOURMIND CEO Aleksander Ciszek identifies a strong demand from established businesses as the driving force behind Series A success. EOS, Siemens and Continental are already named as high profile clients of the 3YOURMIND SaaS, and global engineering firm GKN joined the client roster upon the company’s entry into the U.S. market.
Commencing its U.S. expansion, 3YOURMIND has also announced that it has opened its East Coast office in New York City.
The fulfilment of Series A has been made by a total of 4 investors. The financing arm of machine tool and metal additive manufacturing system provider TRUMPF, is one of the named strategic investors in Series A. AM Ventures (AMV) also contributed to the round, and is a sister company of EOS. Johann Oberhofer, Executive Vice President of AMV, comments,
“3YOURMIND has developed very positively since we were a lead investor in their first financing round in 2015. Very quickly, they have grown into one of the leading providers of intelligent software solutions for 3D printing. Being part of the Series A financing to support the expansion into the U.S. and Asia was an easy decision.”
The 3YOURMIND solution
The 3YOURMIND platform is designed to help enterprises and service providers integrate 3D printing into their existing workflows. Software can be cloud based or installed on-premises, providing teams with the digital tools necessary to organize and activate production.
The system’s key feature is its 3D model archive, from which users can automatically optimize a part for 3D printing, gain price estimates, collaborate on part production with other areas of the business and follow items through to the final delivery. Additionally, 3YOURMIND has the Additive Manufacturing Part Identifier (AMPI) that automatically scans an entire library of parts to identify those that can be 3D printed.
Featured image shows a preview of 3YOURMIND’s SaaS platform. Image via 3YOURMIND