Design automation firm DriveWorks has been backed with £4 million growth funding.
The Queen’s Award-winning company, headquartered in Warrington, is plotting further international expansion following the investment from BGF.
DriveWorks works with manufacturing and engineering businesses to provide innovative design automation and 3D sales product configuration software solutions.
The fast-growing technology company was co-founded by CEO Glen Smith and VP Maria Sarkar in 2001 with the creation of DriveWorks software as a design tool to automate SOLIDWORKS, a 3D CAD design platform.
With an already established userbase in the US, DriveWorks’ technology has global reach and is utilised by thousands of customers across 47 countries.
BGF’s funding will support continued investment in technology to accelerate growth and position the business to address the significant market demand for customised 3D product visualisation in an increasingly virtual world.
“Our company is built on innovative technology, high standards and above all else the quality and commitment of our people to our customer base and channel partners,” the DriveWorks founders said.
“With BGF’s support, we have an opportunity to build on our growth with continued investment in our software and focus on international expansion into new and existing markets. We’ve been impressed with BGF and their expertise in supporting the scale-up of technology businesses in our sector which will be key to achieving our ambitions for DriveWorks.”
Harry Jones from BGF originated and led the deal. He said: “DriveWorks is an excellent business with unique and world-leading technology which has significant global potential to help manufacturing companies generate more sales whilst also driving efficiencies in their production processes.
“We have also been impressed by the founders’ commitment to their team and investing in talent within the business which gives a strong cultural alignment between our organisations. All of these elements, combined with our support, investment and attractive sector fundamentals, mean DriveWorks is primed to scale its operations.”