Please replace the release dated April 13, 2021 with the following corrected version due to multiple revisions.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20210413006200/en/
The updated release reads:
APRIORI ACCELERATES DIGITAL CLOUD PLATFORM THROUGH C ROUND FOLLOW-ON INVESTMENT LED BY GUTBRAIN VENTURES
aPriori, the leading provider of digital manufacturing software, featuring design for manufacturability (DFM) and cost (DTC) solutions, announces today that the company has closed a $5M C Round follow-on valued at over $200M led by Gutbrain Ventures.
COVID-19 has driven a significant increase in demand from manufacturing companies for more digital, collaborative engineering, sourcing and supplier quoting capabilities to accelerate time to market and deal with the confluence of ongoing supply chain issues. Demand for aPriori’s Cost Insight Cloud Platform accelerated significantly in the past 2 quarters. These additional funds will be used to expedite the development of a suite of cloud-based applications for engineering, sourcing, and supplier teams, providing a consistent, cohesive view of product manufacturability and costs.
Furthermore, aPriori will continue to extend the capabilities of the platform to provide automated early design and production guidance through digital manufacturing insights critical for everyone across the product lifecycle. By integrating aPriori’s Cost Insight Generate solution with a customer’s PLM system, every time a new or modified part is “checked-in” it will automatically be examined for potential manufacturability and cost issues. This allows the design team to stay focused on innovation and getting new, cost optimized products to market as fast as possible, while at the same time enabling sourcing teams to get early visibility to products coming down the pipeline to start production planning much sooner.
“I am amazed by the rapid acceleration in the shift of manufacturers moving to the cloud and embracing digital transformation to improve their global product design and production operations,” said Bob Davoli, managing director at Gutbrain Ventures. “This strategy will allow them to be more agile during times of supply chain disruption and enable their design teams to keep working with anyone at anytime from anywhere. Utilizing applications in the cloud not only significantly reduces risk during times of global uncertainty but also helps mitigate the risk from cyber attackers invading on-premise deployments. aPriori is truly on the forefront of the digital transformation revolution.”
“The timing of this investment helps us to capitalize on the confluence of market factors accelerating the digital manufacturing transformation. Our growing portfolio of cloud-based digital manufacturing technology is helping customers reduce risk in their product development initiatives from concept to production, and to collaborate on critical product initiatives no matter where they are located by simply opening a web browser and connecting to our platform,” said Stephanie Feraday, President and CEO at aPriori. “And from a company perspective, this market acceleration and funding to support our cloud development, further positions us for significant growth.”
aPriori is the leading provider of digital manufacturing software that brings product design, sourcing teams and supplier teams closer together to close the gap between design and production. By leveraging the digital twin with our digital factories, we automatically generate design for manufacturability (DFM) and design for cost (DTC) insights, helping manufacturers collaborate across the product development process to make better design, sourcing and manufacturing decisions that yield higher value products in less time. aPriori solutions are now available either in the cloud or on-premise. To learn more about aPriori, visit www.apriori.com or call 1.978.371.2006.
aPriori and aPriori Technologies are registered trademarks of aPriori Technologies Inc. All other trademarks, registered trademarks or service marks belong to their respective holders.