CoLab has secured $5.6M CAD in funding from the Hibernia and Hebron Projects to grow local artificial intelligence (AI) talent and product capabilities.
St. John’s, Newfoundland / May 16, 2024 — CoLab Software, a technology company building collaboration solutions for mechanical engineering and hardware development teams, today announced its fully subscribed Series B round with $21M USD in funding. Global software investor Insight Partners led the round, with participation from existing major investors, including Y Combinator, Killick Capital, and Pelorus VC.
CoLab Software is pleased to announce a new partnership with PTC through their Partner Advantage Program. Through this program, PTC invests in enabling and growing its partners for the benefit of joint customers worldwide.
CoLab, the world’s first Design Engagement System for mechanical engineering teams, has brought veteran SaaS leader Jason McDermott on board as the company’s Chief Sales Officer.
CoLab, the world’s first Design Engagement System for mechanical engineering teams, will be one of the first developers to work collaboratively with Xometry to integrate into the Workcenter platform.
CoLab Software welcomes MJ Peters as the company’s first VP Marketing. Peters will shape and oversee CoLab’s marketing strategy while collaborating closely with the rest of the leadership team to drive key business results and bring the benefits of modern collaborative tools to even more engineering teams around the world.
Leading North American gold producer Alamos Gold has signed on with CoLab Software, adopting the web-based collaborative tool for their design review and approval workflows.
CoLab Software has signed a contract with the Government of Canada that enables the Department of National Defence (DND) to test CoLab’s collaborative engineering software.
