Mar 20, 2019 | By Thomas

Markforged, a Watertown, MA-based manufacturer of industrial 3D printers, closed an $82m Series D round of funding. The round was led by Summit Partners, an investment firm that closed a $4.9 million growth equity fund in March this year. Existing investors including Matrix Partners, Microsoft Ventures M12, Porsche SE and Siemens next47 also participated in the round, bringing the company’s total funding to $137M.

In conjunction with the funding, Michael Medici, a Managing Director at Summit Partners, has joined Markforged’s Board of Directors.

The company intends to use the funds to accelerate its product roadmap, including the introduction of mass production printers and new materials. It plans to add a regional headquarters in Asia this year, as well as double its global headcount in engineering. In Boston, Markforged will add 200 jobs to its existing employee base of 230. The company also plans to open an additional manufacturing facility in the greater Boston area this year.

Founded in 2013 by Greg Mark, CEO, Markforged makes industrial 3D printers for metal, composite and plastic parts. In September 2018, the company settled a trade secret and corporate espionage lawsuit with rival Desktop Metal.

“We have been actively monitoring the additive manufacturing market for the last decade and are excited to partner with the Markforged team,” said Michael Medici, a Managing Director at Summit Partners who has joined the company’s Board of Directors. “Markforged has been quietly executing at an incredible pace for the last five years, delivering exceptional products that solve real-world industrial manufacturing needs. Greg and his team are focused on continued product innovation, and we believe the best is yet to come for Markforged and its customers.”



Posted in 3D Printer Company



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