Quickie: Aras raises another $70 million in funding

Nov 29, 2018 | Hot Topics

Aras just announced that it has raised another $70 million in equity funding, this time led by Goldman Sachs Private Capital Investing group with participation from Silver Lake Kraftwerk and GE Ventures, both prior investor. These funds will support global expansion and fund in-house R&D and acquisitions that support Aras’ Innovator PLM platform.

You might remember that, in Aras announced a $40 million investment round last September and has since acquired Comet Solutions and infoTRAK MRO (now Impresa MRO)– both strategic application acquisitions adjoint to the Innovator platform itself. In addition, according to the press release about today’s round of funding, Aras has “expanded global operations with offices in the United Kingdom and Italy; doubled office footprint at its U.S. headquarters, and grown global employee headcount by more than 50 percent”.

Peter Schroer, CEO and Founder of Aras, said, “This funding round with Goldman Sachs PCI enables us to move forward rapidly on multiple fronts and deliver the critical capabilities our customers need to innovate and transform their operations. We view this additional capital as another positive step forward for our entire open PLM community so that we can deliver capability faster, on a larger scale.”

By my tally, that makes a total of about $125 million raised so far — serious change in the world of PLM software.