ClearCalcs, an Australia-based engineering, and structural design software company, raised $2.5 million in funding, bringing ClearCalcs' total pre-series capital raised to $5 million.
The round was led by existing investors EVP and Shearwater Capital, as demand for the company's unique engineering technology booms internationally.
The funds will be used for further customer acquisition via strategic partnerships, expanding the software’s offerings and materials, and growing the current team of 23 employees.
“At ClearCalcs, we’re servicing a market that is desperate for change and better support, but with incredibly complex requirements. While the eng-tech field is niche, we understand the intimate specifics of our community. By leaning into this, we’ve been able to build a business that is swelling in potential and uptake,” ClearCalc co-founder and CEO Chris Borzillo said. “Our software gives those in the design engineering space the tools they need to do their job at speed and with incredible accuracy. As a result, they can trial new and different materials that would previously have been too time consuming to consider. This is not only reducing the time it takes for housing to move from concept to reality, but also changing how engineering is approached.”
ClearCalcs now has an established presence in the US, Canada, Europe, Australia, and New Zealand.
Company: ClearCalcs Pty. Ltd.
Raised: $2.5M
Round: Unknown
Funding Month: November 2022
Lead Investors: EVP and Shearwater Capital
Additional Investors:
Company Website: https://clearcalcs.com/
Software Category: Structural Design Software
About the Company: Founded in 2017 by Borzillo and Steven Robinson, ClearCalcs is an online SaaS for the creation and automation of engineering computations. It provides calculation tools to engineers, architects, and building designers to help them better determine the structural requirements for their projects. The software can generate engineering calculations for projects involving wood, steel, retaining walls, portal frames, and other materials. Engineers and building designers can use an easy-to-use web app to streamline their structural calculations. With powerful online FEA that prints to a professionally formatted report, you can calculate beams and columns in minutes. ClearCalcs helps structural engineers save time and produce better designs.
Source: https://www.businessnewsaustralia.com/articles/engineering-software-company-clearcalcs-raises--2-5m-to-build-on-global-operations.html