Startup profile · funding coverage
Onshape funding, valuation and investors
Cloud-native CAD from SolidWorks veterans—acquired by PTC for $470M in 2019.
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Funding, valuation & investors
Answer-first snapshotLatest funding
Series C
$80M · September 2015
Latest known valuation
Not publicly disclosed
Total disclosed equity funding
$80M
Excludes debt, grants, acquisitions, secondaries, and IPO proceeds.
Current status
acquired
acquired · Cambridge, Massachusetts
Investors in latest funding
Lead: Andreessen Horowitz
Latest tracked event: Acquired by PTC (November 2019). It is shown separately because it is not counted as disclosed equity funding.
Overview
Onshape, founded by former SolidWorks leaders including John McEleney, Jon Hirschtick, and team, delivered full-cloud 3D CAD with built-in PDM and real-time collaboration—no installed desktop client required. The Cambridge, Massachusetts company raised over $64 million from NEA and North Bridge in early rounds per TechCrunch, then a $80 million Series C in September 2015 led by Andreessen Horowitz per Forbes. In November 2019, PTC acquired Onshape for approximately $470 million—combining SaaS CAD with PTC's Creo and PLM portfolio for the Atlas platform era. Onshape continues as PTC's cloud-native CAD offering.
Why Onshape is interesting
John McEleney's team rebuilt 3D mechanical design as browser SaaS with real-time collaboration; NEA backed early rounds before a16z's $80M Series C and PTC's $470M exit.
Product & use cases
Onshape provides browser-based parametric CAD, assemblies, drawings, and version control—collaboration-first vs file-based desktop CAD workflows.
- Mechanical engineering teams co-editing assemblies in real time
- Startups avoiding desktop CAD license servers and PDM overhead
- Cross-site hardware teams sharing live models without check-in/check-out
Key facts
- Series C (Sep 2015): $80M led by a16z (Forbes)
- PTC acquisition (Nov 2019): $470M (TechCrunch)
- Founded by SolidWorks veterans including John McEleney
- Early funding $64M+ from NEA, North Bridge (TechCrunch)
Funding history (newest first)
Acquired by PTC
2019-11 $470MSource: https://techcrunch.com/2019/11/01/ptc-acquires-onshape-for-470m/
Investors in our directory
Funds linked from Onshape's profile — open a fund page for stage focus and related deal articles.
Competitive landscape
Edge: SolidWorks alumni credibility plus true cloud architecture—not desktop CAD with cloud sync bolted on.
CAD incumbents added cloud features while Onshape bet on greenfield SaaS. PTC acquisition validated cloud CAD strategic value without Onshape displacing Creo install base overnight.
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SolidWorks / Dassault incumbent
Dominant desktop CAD; founders' prior employer.
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Autodesk Fusion 360 direct
Cloud-leaning CAD from incumbent.
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PTC Creo incumbent
Acquirer's legacy CAD; Onshape positioned as cloud sibling.
Notable stories
- Jon Hirschtick also founded SolidWorks—Onshape was cloud-native second act (press bios).
- a16z $80M Series C among largest CAD software rounds of 2010s cloud era.
- PTC kept Onshape brand as SaaS CAD alongside Creo enterprise install base.
Industries
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FAQs about Onshape
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