Proficiency Inc., a Marlborough, Mass.-based provider of OEM and supplier product data integration, has raised $4.25 million in new VC funding. Catalyst Investment led the round, and was joined by return backers Carmel Ventures and Pitango Venture Capital. The company has now raised nearly $60 million in total VC funding since its 1998 inception.
Proficiency, the leading developer of solutions that enable manufacturers and their suppliers to extract and share product knowledge from diverse engineering and manufacturing environments today announced that it has raised $4.25 million in funding led by Catalyst Investment. Current investors, Carmel Ventures and Pitango Venture Capital also participated in the funding. Proficiency, with mature and proven CAD interoperability solutions, will use the funding to expand its market penetration and to further its already strong technological lead in the industry by developing new applications and breakthrough solutions.
Proficiency's solutions, based on the Collaboration Gateway(TM), enable OEMs, partners and suppliers with heterogeneous PLM and multi-CAD environments to ensure effective product knowledge integration (PKI) during design and manufacturing processes. CAD geometry translations, CAD feature based conversions, migrations from legacy systems like CATIA V4 or IDEAS, and multi-CAD interoperability are just some of the solutions offered by Proficiency.
Proficiency combines state-of-the-art technology, with methodology and new applications, providing solutions to leading OEMs and suppliers in industries such as aerospace & defense, automotive, and heavy machinery. Customers like Alstom Transport, Boeing, Bombardier, DaimlerChrysler, European Aeronautic Defense & Space Company (EADS), FIAT Powertrain, Ford Motor Company, General Dynamics, GKN, ITT Industries, Magneti Marelli, Northrop Grumman Corporation, Siemens, ThyssenKrupp, and the U.S. Navy, benefit from using Proficiency's solutions.
“Proficiency has revolutionized the way people think about their product knowledge as they need to deliver 3D models to other CAD systems or migrate them to a modern CAD,” said Yair Shamir, chairman and managing partner, Catalyst Investments. “With an extensive network and vast industry experience Catalyst is very well positioned to support Proficiency's market expansion efforts in the aerospace and automotive industry, and the global reach in Europe, North America and
“We are truly excited about the future direction of Proficiency,” said Proficiency's Chairman, Richard Riff