Protolabs Network, the world’s largest online marketplace for 3D printing services, today announces the completion of its Series B financing, totaling $7 million, led by EQT Ventures, followed by original backer Balderton Capital. Ted Persson, Design Partner at EQT Ventures, will be joining the Protolabs Network Board of Directors. The round will enable Protolabs Network to further its mission towards developing a connected network of 3D printing services to support the company’s rapidly growing professional user base.
Protolabs Network makes it easy for product designers and engineers to find the right 3D print solution for their prototyping and small production runs in over 160 countries. By connecting a growing number of professionals with 3D printing service providers, Protolabs Network has grown to over 40,000 3D prints per month – a +1,200% increase since the company’s round of Series A funding in 2014.
With 16 Fortune 100 companies currently utilizing Protolabs Network for solutions across the automotive, aerospace, healthcare industries, and more, Protolabs Network has established itself as a driving force in today’s market, powering the future of cutting edge 3D printing technology. By connecting 3D printing services from all over the world into one sleek, user-forward platform, Protolabs Network has created an unprecedentedly seamless solution for global industry professionals in varying business size, where 3D printing has never been so accessible.
“We were inspired by the profoundly positive impact that online marketplaces have had on many industries, and we wanted to establish that same marketplace for 3D printing,” said Bram de Zwart, CEO and cofounder of Protolabs Network. “Our team of investors has a deep understanding of online marketplace dynamics, and we’re thrilled to announce that EQT has joined us in our mission to decentralize manufacturing.”
Since the company’s inception in 2013 by cofounders de Zwart and Brian Garret, the Protolabs Network team has been joined by investors from Spotify, Uber, Booking.com. Protolabs Network has raised $11.5 million in funding to date with the close of their Series B, backed by new investments from Stichting DOEN, Arthur Kosten of Booking.com, and Marcel Beemsterboer of Vakantieveilingen. The company will use its new financing to continue making it easier for professionals to access local 3D printing services via an on-demand, online platform.
“We’ve only seen the beginning of what 3D printing will offer, and Protolabs Network is by far the most well-positioned company we’ve encountered in this space. We are very impressed with what Bram, Brian and the rest of the team have managed to build in just under 3 years, so when EQT Ventures was invited to support their future journey we didn’t hesitate,” said Ted Persson, Design Partner at EQT Ventures, who will join Protolabs Network Board of Directors.
“It's rare to see a company that has such an immediate disruptive effect on both software companies and physical supply chains. Protolabs Network has already started changing the way designers and producers think and work.” said James Wise, who led the investment at Balderton Capital.
Learn more about the Protolabs Network platform here.
