11-12-19 Christian J. Henrich, Esq. was lead counsel for PostProcess as they secured $20M in a Series B Funding Round.
Posted on December 27, 2019
PostProcess Announces Major Milestones with $20M Series B Round and European Strategy Expansion
– Series B funding led by prominent financial investor Grand Oaks Capital
– Growth of EU distribution network with appointment of new Channel Partners
– European facility expanding, supported by a grant from regional authorities
Buffalo, NY, November 12, 2019 – PostProcess Technologies Inc., the first and only provider of automated and intelligent post-printing solutions for industrial 3D printing, released today a series of announcements related to its strategic expansion plans, including a $20M Series B funding round. The round is led by Grand Oaks Capital, an investment firm founded by legendary businessman and philanthropist Tom Golisano, the founder of Paychex Inc. and former owner of the Buffalo Sabres NHL hockey team. This additional funding will accelerate the company’s full-stack solution of proprietary software, hardware, and chemistry with a focus on data analytics and machine learning and significantly increase its global go-to-market activity.
Additionally, the company released the following two announcements related to the expansion of its European presence, coming just one year after its initial EU launch:
– PostProcess will increase its EU footprint through the investment in a new FINISH3D Benchmarking Lab supported by a substantial financial grant from the Région Sud Provence-Alpes-Côte d’Azur authorities. This technology demonstration and customer support facility will host benchmark test solutions as well as a training center for European customers, replicating its successful demonstration, benchmarking, and training center in its Buffalo, NY, USA headquarters.
“We made the decision to set up our offices and lab in Sophia-Antipolis to capitalize on the capacity of the area to attract international talent with strong technological expertise that can serve the development of our operations,” said Bruno Bourguet, Managing Director of PostProcess Technologies International. “The area is also well-fitted to receive our global customers for demonstrations and training sessions, providing easy access through its international airport. We are very honored that the Région Provence-Alpes-Côte d’Azur authorities have selected our expansion project in their support program, as this will help accelerate our plans and solidify our presence in the territory.”
– PostProcess announced the expansion of its European Channel Partner network with the addition of two leading distributors. CYLAOS, a French-based engineering company specialized in 3D printing industrial deployment, will cover the French market with PostProcess solutions. In the Nordics region, KMC will serve PostProcess’ customer base as a specialist in surface treatment solutions. “As demand for our automated and intelligent post-print solutions rapidly expands across markets and geographies, we’re excited to bring highly experienced and reputable partners like CYLAOS and KMC on board,” commented Bourguet.
Jeff Mize, CEO at PostProcess Technologies, stated, “our automated solutions have proven mission-critical at over 100 companies and transformed the third step in the additive process. The global demand continues to increase, and we are pleased with the rapid expansion of our team, channel partners, and customer base in the EU.” Founder and CTO Daniel Hutchinson added, “as 3D printing’s growth into Additive Manufacturing expands its impact on business and the world at large, we are committed to providing a sustainable, data-driven solution that enables our customers to realize a fully digitized thread across the industry 4.0 additive workflow.”
PostProcess’ technology solutions will be on display at Formnext in Frankfurt, Germany, on November 19-22, where live demos will be available in Hall 12.1 – Stand B40.
About PostProcess Technologies:
PostProcess Technologies is the only provider of automated and intelligent post-printing solutions for 3D printed parts. Founded in 2014 and headquartered in Buffalo, NY, USA, with international operations in Sophia-Antipolis, France, PostProcess removes the bottleneck in the third step of 3D printing – post-printing – through patent-pending software, hardware, and chemistry technologies. PostProcess’ solutions automate additive manufacturing’s most common post-printing processes with a software-based approach, including support, resin, and powder removal, as well as surface finishing, resulting in “customer-ready” 3D printed parts. Its technology delivers transformative results in decreased manual labor, reduced cycle time, improved consistency and repeatability, and lower scrap/re-print rates. The PostProcess portfolio has been proven across all major industrial 3D printing technologies and is in use daily in every imaginable manufacturing sector.
“The Additive Manufacturing Experience”
The Cylaos team assists you in setting up additive manufacturing solutions within your company. Auditing, consulting, training, sales of 3D printers (HP, Lynxter, Formlabs, and Ultimaker) and consumables, maintenance, we use our industry experience and 3D printing skills to guide you to the best technology. At each phase of your project, make the difference and stay competitive through additive manufacturing. Learn more at https://cylaos.fr/
KMC has more than 30 years of experience in developing methods and providing equipment for mechanical surface treatment and surface cleaning to the Nordic manufacturing industry. The driving force within KMC is to be innovative and to work with proven customized solutions for our customers. It is natural for us to always collaborate with market-leading partners so that we can help the Nordic industry become even more competitive. We are part of the listed Addtech Group, whose history as a trading group goes back as far as 1906. Our affiliation, in addition to financial strength, has brought us additional industrial experience and expertise. Learn more at https://www.kmc.se/