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Onshape

SoftwareBoston, USAFounded 2012· One of 350 Software companies tracked by AMPulse

Cloud-native CAD and PDM platform acquired by PTC in 2019 for $470M; founded by SolidWorks creators

CEO / Founder
Jon Hirschtick
Team Size
201-500
Stage
Acquired
Total Funding
$470M
Latest Round
Acquired
Key Investors
Andreessen Horowitz, New Enterprise Associates (NEA), Commonwealth Capital Ventures, North Bridge Venture Partners

Technology & Products

Key Products

Cloud-native CAD and PDM platform

Technological Advantage

Full cloud architecture eliminates installs, enables real-time collaboration from any device, continuous updates, built-in version control and PDM

Differentiation

Value Proposition

Onshape's cloud-native architecture enables real-time collaboration, eliminates the need for software installations and expensive hardware, and provides built-in data management, leading to a more agile, efficient, and cost-effective product development process.

How They Differentiate

Pure cloud-native vs. cloud-enabled competitors; no installations, real-time collaboration, rapid 3-week release cycles

Market & Competition

Target Customers

Product design teams, startups, educational institutions, government contractors (with Onshape Government)

Industry Verticals

Product Design, Manufacturing, Aerospace & Defense, Education, Robotics, Consumer Electronics

Competitors

SOLIDWORKS, Autodesk Fusion, Siemens NX

Growth & Milestones

Growth Metrics

Acquired by PTC for approximately $470 million in 2019, validating its significant growth and market disruption. Continues to show strong user and revenue growth as a key part of PTC's Velocity business unit.

Major Milestones

["2012: Founded by SolidWorks veterans in Cambridge, MA", "2015: Public launch of cloud CAD platform", "2019 Oct: PTC acquisition announced for $470M", "2019 Nov: Acquisition completed, operates as PTC business unit", "2025: Launched Onshape AI Advisor embedded in design environment", "2025: First cloud-native Model-Based Definition (MBD)", "2025: Onshape Government + Arena GovCloud for regulated industries"]

Notable Customers

Garmin; Formlabs; Magic Leap; Desktop Metal; Aura Aero

https://www.onshape.com

Recent coverage of Onshape

Why this company matters

Onshape occupies a distinctive position as the first true cloud-native CAD and product data management platform, built from scratch to eliminate the file-based workflows that constrain traditional engineering software. Founded in 2012 by the creators of SolidWorks, the platform was designed for real-time collaboration, automatic version control, and continuous updates — a fundamental departure from installed desktop CAD tools that require manual file transfers and periodic upgrades.

The core technology is a full cloud architecture that runs entirely in a web browser, requiring no software installation or high-end workstation hardware. This enables engineers to access, edit, and share 3D models from any device, with built-in PDM that tracks every change. Onship's release cycle of three weeks for new features contrasts sharply with the annual or multi-year cycles of traditional CAD vendors, allowing users to adopt improvements rapidly.

Onshape serves product design teams across aerospace, defense, robotics, consumer electronics, and education. Notable named customers include Garmin, Formlabs, Magic Leap, Desktop Metal, and Aura Aero. The platform also offers a government-specific version, Onshape Government, for regulated industries. Its app store ecosystem integrates with simulation tools like Simscale and CAM solutions like CloudMilling, extending its utility beyond core CAD.

Acquired by PTC in 2019 for $470 million, Onshape now operates as a key part of PTC's Velocity business unit. Its cloud-native architecture remains a differentiator against competitors like SolidWorks, Autodesk Fusion, and Siemens NX, which are primarily cloud-enabled rather than cloud-native. The launch of Onshape AI Advisor and the first cloud-native Model-Based Definition in 2025 signal continued investment in expanding the platform's capabilities for collaborative engineering.