CIMdata PLM Industry Summary Online Archive
26 February 2008
Financial News
Proficiency Closes $4.25 Million Round of Funding
Proficiency announced that it has raised $4.25 million in funding led by Catalyst Investment. Current investors, Carmel Ventures and Pitango Venture Capital also participated in the funding. Proficiency, will use the funding to expand its market penetration and to further its already strong technological lead in the industry by developing new applications and breakthrough solutions.
Proficiency's solutions, based on the Collaboration Gateway™, enable OEMs, partners and suppliers with heterogeneous PLM and multi-CAD environments to ensure effective product knowledge integration (PKI) during design and manufacturing processes. CAD geometry translations, CAD feature based conversions, migrations from legacy systems like CATIA V4 or IDEAS, and multi-CAD interoperability are just some of the solutions offered by Proficiency.
Proficiency combines state-of-the-art technology, with methodology and new applications, providing solutions to leading OEMs and suppliers in industries such as aerospace & defense, automotive, and heavy machinery. Customers like Alstom Transport, Boeing, Bombardier, DaimlerChrysler, European Aeronautic Defense & Space Company (EADS), FIAT Powertrain, Ford Motor Company, General Dynamics, GKN, ITT Industries, Magneti Marelli, Northrop Grumman Corporation, Siemens, ThyssenKrupp, and the U.S. Navy, benefit from using Proficiency's solutions.
"Proficiency has revolutionized the way people think about their product knowledge as they need to deliver 3D models to other CAD systems or migrate them to a modern CAD,” said Yair Shamir, chairman and managing partner, Catalyst Investments. “With an extensive network and vast industry experience Catalyst is very well positioned to support Proficiency’s market expansion efforts in the aerospace and automotive industry, and the global reach in Europe, North America and Asia.”
”We are truly excited about the future direction of Proficiency,” said Proficiency’s Chairman, Richard Riff – Director and Ford Technical Fellow / IT Ford Motor Company. “Proficiency addresses key business challenges of manufacturing companies by enabling a smooth, fast, and economically feasible transition to modern CAD systems. The high degree of automation in the migration process, combined with field-proven methodologies and tools, delivers a unique solution that eliminates risk while keeping data quality under full control.”
"I am pleased to have found a partner in Catalyst both in terms of financing and their understanding of the technology. This round of investment is part of Proficiency’s strategic growth plan, and re-enforces our roadmap and commitment to provide the level of CAD interoperability which modern CAD users expect and deserve" said Alex Shapira, President and CEO of Proficiency. “Rather than giving up a large part of the design intent or manually re-designing models in another CAD, manufacturers can now preserve the integrity of their product knowledge and validate it at the required level of accuracy in a fast, reliable and scalable way.”
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