Markforged, a manufacturer of industrial 3D printers, announced that it has closed an $82 million Series D round of funding.
Summit Partners, a private equity firm with $19 billion in capital, led the round, bringing the Watertown, Massachusetts-based company’s total funding to $139 million. Additional investors included Matrix Partners, Microsoft Ventures and Porsche SE.
Markforged 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, strengthen its massive foothold among global manufacturers.
Additive Manufacturing – a process that combines 3D printers, cloud-based software and newly-available materials – is set to play a role in powering the revolution of the global manufacturing industry, driving cost reductions and reshaping traditional manufacturing processes into a more efficient digital production line.
By enabling the printing of high-strength parts at an affordable price, the founding of Markforged in 2013 helped mark a turning point in additive manufacturing.
Markforged says it shipped more than 2,500 industrial printers in 2018 alone, making it one of the largest additive manufacturing companies in the industry. The company serves customers in more than 50 countries, and has filed for 133 patents with 38 already issued. Price points help move product. Its Metal X printer costs just $99,500, compared with the average selling price for metal 3-D printers of $413,000.