Fortify has announced the closing of a $20m equity round which will be used to drive team growth, expand its presence in high-value application spaces and transition to volume manufacturing of its Flux Series 3D printing systems.
The round was led by Cota Capital with contributions Accel Partners, Neotribe Ventures and Prelude Ventures.
Fortify has held previous funding rounds in January 2019 and July 2019, procuring more than $12 million, and commenced shipping of its Flux One composite DLP 3D printing system in September 2020. The company has also grown out its team with notable hires including Paul Dresens, formerly of Desktop Metal, as VP of Engineering and Advisor Rob Stevens, formerly of GrabCAD and Stratasys.
With this latest influx of funding, Fortify is now hoping to accelerate the delivery of its 3D printing technology to market, as well as speeding up the time to market on several high-value strategy material development programmes in collaboration with material partners such as DSM and Henkel.
“Fortify has been focused on proving the viability of our product and market opportunity over the past 18+ months and exceeded our goals set at the beginning of 2020,” commented Josh Martin, CEO and co-founder of Fortify. “This next round will expand our go-to-market footprint in key verticals such as injection mould tooling while enabling us to capture market share in end-use electronic devices.”
“The additive manufacturing market is rapidly expanding, and we believe that Fortify is unlocking one of the key barriers to growth of the industry: advanced materials,” added Bobby Yazdani, founder and partner at Cota Capital. “We are excited to collaborate and support the company as it continues to redefine advanced manufacturing.”
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