Concord, Massachusetts-based aPriori, a provider of enterprise product cost management software, has secured $26.8 million in Series C funding. The investors included NewSpring, Autodesk, Gutbrain Ventures, Oyster Angel Fund, PBJ Capital, Sigma Partners and Sigma Prime Ventures.
Radnor, PA – September 17, 2019 – NewSpring (the “Firm”), a family of private equity strategies, announced today that NewSpring Growth (“NewSpring”), the Firm’s dedicated growth and expansion strategy, has completed a Series C financing round in aPriori, a leading provider of enterprise product cost management software featuring design for manufacturability and cost solutions.
aPriori is illustrative of NewSpring’s commitment to partnering with transformative, high-growth companies led by innovative management teams that are changing the landscape of their industries. Based in Concord, MA, aPriori will use the proceeds to accelerate the development of a suite of role-based applications for engineering, sourcing, and manufacturing teams, providing a consistent view of costs and a platform for working together. It will also enable the Company to expand international operations to support their many global customers and supplier communities.
“Today’s manufacturers are under extreme pressure to deliver innovative new products to market in highly compressed time frames. aPriori’s ability to simulate the manufacturing process in real-time allows our customers to quickly identify and eliminate cost drivers from product designs and evaluate the cost of trade off decisions for outsourced components. We are very pleased that NewSpring has agreed to join us on this journey to help leading product manufacturers improve product profitability and accelerate time to market,” said Stephanie Feraday, President and Chief Executive Officer at aPriori.
“Until now, the product cost management process has been complex, opaque, and could only be performed by highly-trained specialists. aPriori has developed a way to simplify this process while also providing greater cost visibility and speeding time to market,” said Michael DiPiano, Managing General Partner and co-founder of NewSpring. “With aPriori, we’ve found an innovative, high-growth business led by forward-thinking leaders and are thrilled to help fuel their next phase of growth.”
Along with its investment, NewSpring’s Michael DiPiano will join the aPriori Board of Directors.
NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Having invested in over 150 companies, NewSpring brings a wealth of knowledge, experience, and resources to take growing companies to the next level and beyond. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. To learn more, visit http://www.newspringcapital.com.
aPriori software and services generate hard-dollar product cost savings for discrete manufacturing and product innovation companies. Using aPriori’s real-time manufacturability and product cost assessments, employees in engineering, sourcing, and manufacturing make more-informed decisions that drive costs out of products pre- and post-production. With aPriori, manufacturers launch products at cost targets, maximize savings in re-work projects and avoid overpaying for sourced parts. To learn more about aPriori and its product cost management solutions and services, visit www.apriori.com or call 1.978.371.2006. To see an overview demonstration of aPriori, click here.