Princeton-based Transcend Software announced Aug. 3 that it closed on a $20 million Series B financing round.
The financing round included participation from Autodesk, along with existing investors HG Ventures and PureTerra, along with new investors Arosa Capital and Riverstone Holdings LLC. Transcend, a leading SaaS provider of generative design tools for critical infrastructure, says that the investment will allow it to continue to expand its customer base, which already includes many of the leading infrastructure players in the world.
The company notes that in less than two years, designs generated through its market-leading software, the Transcend Design Generator (TDG), have already impacted the lives of more than 100 million people in 65 countries globally. TDG fully automates the conceptual and preliminary design of critical infrastructure assets, which Transcend says enables asset owners to reduce design costs and timelines, while prioritizing the incorporation of innovative and sustainable technologies.
Transcend plans to use the investment to accelerate its go-to-market strategy and product roadmap.
“We look forward to this next phase of growth as we continue our mission to help engineers, utilities, and technology suppliers design innovative and sustainable critical infrastructure,” said Ari Raivetz, founder and CEO of Transcend, in a press release announcing the funding round. “Autodesk’s commitment to our business as part of this Series B is a clear indicator that the world is moving towards the automation of preliminary design activities to develop resilient infrastructure for the future. That is good news for everyone, because we must move faster to build the next generation of green infrastructure if we are going to solve the climate crisis.”
“Autodesk feels strongly that new and better ways of designing and making can lead to a more equitable, resilient, and sustainable world for all. So, we appreciate how Transcend is applying generative and outcome-based design to accelerate development of sustainable critical infrastructure,” said Theo Agelopoulos, vice president of AEC Design Strategy at Autodesk. “This investment and our collaboration with Transcend will help make advanced technologies more accessible to a wide range of asset owners, engineering firms, and equipment suppliers, enabling them to achieve better outcomes faster.”
“This investment is not only a catalyst for the growth of our business, but a catalyst for our customers as well,” said Adam Tank, co-founder and chief customer officer at Transcend. “We will continue investing heavily in product features that our users can leverage to build a better world for all of us to live in.”