Markforged raises $82 million round
Series D funding will accelerate product roadmap and global expansion of affordable additive manufacturing, company says.
Markforged announced it has closed an $82 million Series D round of funding led by Summit Partners with participation from existing partners, including Matrix Partners; M12, Microsoft’s Venture Fund; Next47; and Porsche SE. The company says it will use the additional capital to help accelerate its product roadmap, including the introduction of mass production printers and new materials. The capital will also be used to enhance the company’s global expansion plans and strengthen its foothold among global manufacturers.
“Markforged set out to change the pace of human innovation by enabling engineers, inventors and manufacturers to print industrial-grade parts at a fraction of the time and cost of traditional methods,” said Greg Mark, CEO and co-founder of Markforged. “We’re very excited to have Summit join us as we help accelerate the next industrial revolution with broadly accessible and reliable 3D printing.”
Prior to this round, Deloitte named Markforged the 10th fastest growing technology company in North America, while Forbes named the company to its Next Billion Dollar Startup list. The company has amassed a large installed base among leading manufacturers and other types of businesses that benefit from additive capabilities. Markforged shipped more than 2,500 industrial printers in 2018 and serves customers in more than 50 countries, and has filed for 133 patents with 38 already issued.