GrabCAD has closed a $4 million in Round A financing led by Matrix Partners. This is in addition to their seed round of $1.1 million they closed in June 2011. Other existing investors in GrabCAD participated in the round. According to Hardi Meybaum, the CEO and Co-Founder of GrabCAD, the investment will be used to improve the community and product at large.
The financing must have been fueled positively with the growth of their usage figures in the recent months. According to Meybaum, 70 000 users have signed up in the past six months. Today the company reports to have some 75 000 users on board. Models on the site have been downloaded some 1.2 million times cumulatively.
The money will also be used to hire more talent to the company. The company has offices in Boston and Tallinn, both of which look to add more resources. Meybaum stated he’d love to see more people from neighboring countries in the region join the company. If you’re up to it, contact them for possibilities on this front.
GrabCAD is a community oriented site for engineers creating 3D models. Their business model is in offering CAD engineers for companies or project managers in the same space.