CloudNC raises $20m in investment capital
UK-based precision machining software manufacturer CloudNC announced that it has raised $20m in new investment capital.
CloudNC are the developers of CAMAssist, an AI-powered CAM automation platform that reduces the time required to create CNC machining strategies and toolpaths. The platform helps teams move from design to output faster whilst increasing output for operators.
The technology has been adopted by over 1,000 machine shops globally, including hundreds in the US. The customer base is reportedly growing rapidly in new markets, where the funding will further support customer adoption, and market development.
Theo Saville, CEO and co-founder of CloudNC, said: “Machine shops everywhere are under pressure to quote and program faster, and deliver more with the people and machines they already have.
“This investment allows us to stay focused on what matters most to our customers: making CAMAssist even more effective at accelerating daily production, expanding into more markets, and developing new AI products that address critical bottlenecks across machining workflows,” he said.
The funding round was led by US-based venture investor Nimble Ventures, with participation from other investors such as Calculus Venture Capital, Entrepreneur First, and LM Ventures, the corporate venture fund of Lockheed Martin.
CloudNC will use the investment to further catalyse the acceleration of advanced manufacturing by enabling more machine shops to adopt its AI solutions, and to expand into new and existing markets. The funding will also support the development and launch of new products, including Quote Agent, an AI solution for quoting, and estimating that will be available this year.
Quote Agent will address issues in machining around assessing new jobs and preparing quotes. By applying AI to quoting and estimating, it will help manufacturers respond to customer enquiries faster and more consistently, and improve confidence in early-stage job assessment.
John Burbank, founder of Nimble Ventures, said: “CloudNC’s automation of CNC will enable massive increases in onshoring of manufacturing and global production of mission-critical components.”
The funding comes as CloudNC moves from early adoption of CAMAssist to broader commercial scale.
CloudNC is also actively working with Knox Systems toward achieving FedRAMP certification for CAMAssist to enable organisations with stringent security and compliance requirements to use CAMAssist for sensitive manufacturing workloads.
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