VOY Advises June Fund on Investment in SimScale
A team led by Clemens Koós advised venture capital investor June Fund on its Series C investment in SimScale.
SimScale, the SaaS platform making high-fidelity simulation technically and economically accessible to engineers worldwide, raised an additional EUR 25M as an extension to its Series C funding.
The investment is co-led by Draper Esprit and New York-based global private equity and venture capital firm Insight Partners, with Earlybird, June Fund, Vsquared, and USV also participating in the round. This follows on the heels of SimScale’s EUR 27M Series C round in January 2020, bringing the total amount of funding raised in this round to EUR 52M.
SimScale plans to use the new funding to expand into new industries, such as rotating machinery, electronics, and automotive, by adding additional simulation capabilities, as well as to broaden its enterprise offering to larger customers to further its vision of removing barriers to entry for engineering simulations across teams, applications, and industries.
Founded in 2012 with offices in Munich, Germany and Boston, MA, USA, SimScale is the world’s first SaaS application for engineering simulation. By providing instant access to computational fluid dynamics (CFD), thermal analysis, and mechanical simulation to over 300,000 users, SimScale has moved high-fidelity multiphysics simulation technology from a complex and cost-prohibitive desktop application to a user-friendly cloud application accessible via a subscription-based pricing model.
About June Fund
June is a global technology investor, backed by leading industrial minds. It is a research-driven investment firm with a macro-thematic view on technological progress and new economic models.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm investing in high-growth technology and software ScaleUp companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than USD 30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with practical, hands-on software expertise to foster long-term success. Across its people and its portfolio, Insight encourages a culture around a belief that ScaleUp companies and growth create opportunity for all.
About Draper Esprit
Draper Esprit is one of the most active venture capital firms in Europe, investing in disruptive, high-growth technology companies. We believe the best entrepreneurs in Europe are capable of building the global businesses of the future. We fuel their growth with long-term capital, access to international networks, and decades of experience building businesses.
VOY is a law firm and tax consultancy for founders and investors creating a digital client experience that focuses on additional value with direct and uncomplicated legal advice of the highest quality.