UK manufacturing software company CloudNC has raised $20 million in a Series B extension round to expand its software for computer-controlled machining and develop new tools for manufacturers.
The investment takes the company’s total funding to $128 million, according to co-founder and chief executive Theo Saville. Its previous major fundraise took place four years ago.
Founded in 2015 by Saville and chief science officer Chris Emery, CloudNC develops CAM Assist, software designed to automate parts of the computer-aided manufacturing process used in CNC machining.
CNC machines cut and shape materials to produce precision components for industries including automotive, defence and consumer hardware. Before machining begins, programmers must decide how a component will be secured, which tools should be used and how the machine should approach the work.
CAM Assist works alongside established systems such as Autodesk Fusion and Mastercam. It recommends tools, approach directions and cutting speeds, then produces an initial version of the instructions required by the CNC machine.
The results are reviewed and approved by a machinist or programmer, with CloudNC positioning the software as a way to reduce repetitive preparation rather than replace skilled judgement.
“Traditional CAM systems are powerful, but in most workflows, they are still tools that allow programmers to manually specify how a part should be machined,” Saville said.
More than 1,000 machine shops around the world now use CAM Assist, the company said. About 80 per cent of CloudNC’s customers are in the United States, while the business employs 80 people.
CloudNC plans wider manufacturing software rollout
The latest funding round was led by Nimble Ventures, with participation from Calculus Venture Capital, Entrepreneur First and LM Capital, the venture arm of Lockheed Martin.
CloudNC said the money would support broader adoption of CAM Assist, strengthen its sales and marketing operations, and fund expansion into existing and new markets.
The company is also preparing to launch Quote Agent next month. The tool is intended to help manufacturers estimate the cost and risks of potential jobs more quickly, allowing them to decide whether to accept or turn down work.
Saville said manufacturers faced pressure to take on more work as US companies sought to bring production back home, while the industry continued to deal with a shortage of skilled workers.
“Machine shops need to quote faster, program faster, and deliver more with the people and machines they already have,” he said.
