CloudNC, a manufacturing software company based in the UK, has successfully closed a $20 million Series B funding round, raising its total funding to $128 million. This follows their last significant funding round four years ago, according to CEO and co-founder Theo Saville.
Founded in 2015 by Saville and Chris Emery, who serves as chief science officer, CloudNC provides AI-driven CAM Assist software that enhances the automation of Computer Numerical Control (CNC) machining processes. CNC machining uses computer-operated machines to accurately cut or shape materials for applications in industries like automotive, defense, and consumer electronics.
Before machining a part, a machinist or CAM programmer must determine critical factors such as how to secure the part and which tools to utilize, Saville explained. They often rely on specialized CAM software for this planning phase. While some of these tools can assist in creating part designs or identifying known patterns, they fall short of formulating an execution strategy that a seasoned expert would typically apply.
According to Saville, “Traditional CAM systems are robust, but they often require programmers to manually define the machining process.” This gap is where CAM Assist comes into play. This software integrates with existing CAM systems, such as Autodesk Fusion or Mastercam, to assist machinists and programmers in making smarter manufacturing choices.
“It automatically selects appropriate tools, approach paths, and cutting speeds, and then generates the corresponding code for the CNC machine,” Saville elaborated.
After the software generates its recommendations, users can review and modify the outputs before approval. Saville emphasized that the aim is to enhance the efficiency and productivity of skilled workers rather than replacing their expertise. “If traditional CAM is a sophisticated toolkit, CAM Assist acts as an expert assistant that automates much of the initial thinking and repetitive setup, allowing the human to refine and finalize the process,” he said.
CAM Assist is currently employed by over 1,000 machine shops globally, with 80% of its customer base consisting of U.S. manufacturers and companies. With a workforce of 80, the company’s primary objective is to expand its user base.
“This is an opportune moment to secure additional funding,” he noted. Investors in this latest round include Nimble Ventures, which took the lead, along with Calculus Venture Capital, Entrepreneur First, and the venture arm of Lockheed Martin, LM Capital. “The funds will enable us to promote wider adoption of CAM Assist, boost our market strategies, grow in existing and new markets, and develop additional products like Quote Agent,” he said.
Quote Agent, which targets manufacturers, is intended to simplify the process of evaluating project costs and risks, enabling quicker project decisions. Saville linked this need to current geopolitical conditions, highlighting that U.S. machine shops are increasingly keen to reshore while facing a scarcity of skilled labor in the manufacturing sector.
“Machine shops must be able to quote, program, and deliver faster with their existing personnel and machinery,” he added, mentioning that Quote Agent is expected to launch next month.
“The methods for machining a standard CNC part far exceed the number of atoms in the universe,” he said. “We have dedicated years to tackling this complex issue through our factory, our software team, and learning from real machining experiences. It has been a lengthy journey to reach our current position.”
