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SimScale raises €25M for its SaaS engineering simulation platform from Insight Partners, Draper Esprit, others

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Author: Vishal Singh

Topics: funding event

Organizations: SimScale, Draper Esprit, Insight Partners

David Heiny, co-founder and CEO of SimScale, explains, “Our vision is to make engineering simulation a standard tool in every engineer’s tool kit, and accessible early in the design stage, throughout the entire R&D cycle, and across teams, applications and industries. With hundreds of thousands of users and millions of simulation jobs carried out, we’ve made significant progress towards it in recent years.”

However, Heiny continues, “there are still entire industry sectors that we haven’t started addressing yet, and billions of dollars in CAE market value left untapped. This additional investment allows us to double-down on our strategy and accelerate our pace at which we extend SimScale’s offering.”

Read more at Silicon Canals

Tulip Interfaces Announces $100M Series C Led by Insight Partners to Help Frontline Industries Bring Their Operations to the Cloud

Date:

Topics: Funding Event

Organizations: Tulip, Insight Partners

Tulip Interfaces announced today that it has raised $100 million in Series C funding led by New York-based global private equity and venture capital firm, Insight Partners. New investors Pitango Growth and Marc Benioff’s TIME Ventures joined the round, as well as existing investors DMG MORI, NEA, and Vertex Ventures US.

With Series C funding, Tulip plans to expand its international operations to better support its hundreds of global enterprise customers like Terex, Delta Faucet, and Outset Medical; spanning more than 35 countries. Tulip intends to double its headcount, expanding operations in Boston, Munich, and Budapest; and establish a new APAC HQ in early 2022. The company plans to invest in new product features, and further apply AI and data science features to commonly used customer workflows. Tulip will dedicate additional resources towards its growing user community and Frontline Operations Marketplace.

Read more at Tulip Press