TechSoft3D Gets Significant Investment From Battery Ventures
Funding will fuel growth for Tech Soft 3D, the strategic technology partner to engineering software-development companies worldwide
BEND, Ore. – February 20, 2020 – (Newswire.com)
Tech Soft 3D, the leading provider of software-development toolkits (SDKs) for companies that develop software for manufacturing and architecture, engineering and construction (AEC), today announced a significant investment from global, technology-focused investment firm Battery Ventures. Battery General Partner Morad Elhafed and Vice President Satoshi Harris-Koizumi will join the Tech Soft 3D board of directors.
Tech Soft 3D will use the additional capital to fuel growth by investing in product development, scaling the company’s global reach and increasing its product offerings through acquisitions. The company also expects to further expand its portfolio of partners.
Tech Soft 3D delivers top-tier building-block technologies that power innovative 3D applications and is used by leading software-development companies across sectors such as CAD/CAM/CAE, building and construction, AR/VR, additive manufacturing, product lifecycle management (PLM), metrology, electronic design automation, and mining and geosciences. The company’s partner ecosystem includes hundreds of companies, such as Adobe, Autodesk, Dassault Systèmes, Desktop Metal, Trimble, 3D Systems, Siemens PLM, Samsung SDS, Bentley, Hexagon, Xometry and ANSYS, among others.
“Every day, millions of engineers use software powered by Tech Soft 3D component technology,” said Morad Elhafed, general partner at Battery Ventures. “The company’s reach is extremely impressive, and its products are fueling innovation at large and small companies undergoing digital transformation. We are excited to partner with Tech Soft 3D to help the company grow.”
Added Satoshi Harris-Koizumi, vice president at Battery: “As every company becomes a software company, we think demand for Tech Soft 3D’s products will only increase—and we look forward to partnering with the company to penetrate new markets and expand, both organically and through acquisitions.”
“We are thrilled to leverage Battery’s domain expertise in software, and the firm’s global network of relationships, to take our company to the next level,” said Tech Soft 3D CEO Ron Fritz. “We are driven to help our partners develop innovative, reliable 3D software applications. As the trend of increased 3D software development continues to accelerate, this investment from Battery will allow us to expand our offerings and better serve current and future partners.”
Battery Ventures has over a decade of experience helping scale platform companies in product lifecycle management. Its portfolio companies in this area include manufacturing-software company SigmaTEK Systems* and Vero Software,* one of the largest vendors in the CAM market that was acquired by Hexagon AB in 2014.
Tech Soft 3D serves its partners from offices in the USA, U.K., France and Japan.
*For a full list of all Battery portfolio companies, please click here.
About Tech Soft 3D
Tech Soft 3D is the leading global provider of development tools that help software teams deliver successful applications. Established in 1996 and headquartered in Bend, Oregon, Tech Soft 3D also has offices in California, France, England and Japan. The company’s toolkit products power nearly 500 unique applications running on hundreds of millions of computers worldwide. For more information, visit www.techsoft3d.com.
About Battery Ventures
Battery partners with exceptional founders and management teams developing category-defining businesses in markets including software and services, enterprise infrastructure, online marketplaces, healthcare IT and industrial technology. Founded in 1983, the firm backs companies at all stages, ranging from seed and early to growth and buyout, and invests globally from offices in Boston, San Francisco, Menlo Park, Israel, London and New York. Follow the firm on Twitter @BatteryVentures, visit our website at www.battery.com and find a full list of Battery’s portfolio companies here.