OnScale, an emerging leader in Cloud-enabled engineering simulation software, announces $10M in Series A funding led by Intel Capital and Gradient Ventures, Google’s AI-focused venture capital fund. Additional investors include Thornton Tomasetti, Stage 2 Capital, Cultivation Capital, and CampbellKlein.
OnScale, which has grown considerably since emerging from stealth in early 2018, will use the new investment to drive global expansion, respond to increasing demand, and accelerate development of its Computer-Aided Engineering (CAE) solutions for complex, real-world engineering applications.
OnScale CAE tools are based on proprietary multiphysics solvers that were developed and validated over 30 years by one of the largest engineering consulting firms in the world for DARPA, the U.S. Department of Defense (DOD), and large commercial customers. The CAE solvers were architected for highly parallel mainframe computers to handle very large engineering simulation problems and are a perfect fit for modern cloud-based, high-performance computing. OnScale was spun out of Thornton Tomasetti in 2017 and is led by Chief Executive Officer Ian Campbell, along with a strong leadership team with over 100 years of combined experience in CAE software.
The company has established a large and growing base of customers, including a number of Fortune 100 companies. OnScale gives engineers a wealth of design insights and highly accurate simulation results up to 100x faster than legacy CAE offerings. Current OnScale solutions address the simulation needs of Semiconductor and MEMS, 5G mobile, next-gen biomedical, infrastructure safety, and autonomous vehicle markets. The company is focusing on improving OnScale’s user interface, expanding the breadth of physics solver capabilities, and forming partnerships with other software companies to provide seamless engineering workflows.
“With strategic investors like Intel Capital and Google’s Gradient Ventures, OnScale is well positioned to help engineers of all disciplines solve their design challenges,” said Campbell. “Created for engineers, by engineers, our mission is to usher in the future of engineering. With this investment, we will continue to empower innovators who are creating the future of technology.”
“As technology systems become more complex, next-generation computer aided engineering software will become integral to design and deployment,” said Dave Flanagan, vice president and senior managing director at Intel Capital. “OnScale’s highly scalable CAE solution leverages the power of the cloud and advanced multiphysics to model highly complex systems, helping customers solve the toughest design challenges”. Investment Director Arun Chetty will join OnScale’s board.
“Leaps in technology require paradigm shifts in engineering, and the combination of world-class multiphysics solvers, AI, and highly scalable cloud-based HPC provide an opportunity for such a paradigm shift in how we create world-changing technologies. That is why we’re excited to welcome OnScale and its team of software experts to the Gradient portfolio.” said Zach Bratun, Partner, Gradient Ventures.