GrabCAD, which operates a community for (and founded by) mechanical engineers, where they can share knowledge and collaborate on CAD models, engineering projects and whatnot, has raised $4 million in Series A to add to its its $1.1 million seed round from back in June 2011.
GrabCAD, which notably ‘graduated’ from not one but two tech startup accelerators (Seedcamp and TechStars Boston), says its community has now attracted over 70,000 registered engineers. Recently, they passed the 1 million download mark, and GrabCAD founder and CEO Hardi Meybaum tells me there have been another 200,000 downloads of CAD models in the past 3 weeks.
The capital will be used to grow the GrabCAD.com marketplace and community, and to hire 15 new people (mainly software engineers and product managers) in the Boston and Talinn, Estonia regions.
GrabCAD is a mechanical engineering community for sharing talent, expand knowledge and collaborate, including free CAD model library and engineering competitions platform. The founders Hardi Meybaum and Indrek Narusk previously ran a product development company. GrabCAD was founded in 2009. The company’s headquarters is based in Boston, USA with development team in Estonia.
Matrix Partners is a US based private equity investment firm focusing on venture capital investments. The firm invests in seed and early stage companies in the software, communications, semiconductors, data storage, Internet and wireless sectors. Matrix Partners has offices in Waltham, MA, Palo Alto, CA, Mumbai, India and Beijing, China.