Onshape
Cloud-native CAD and PDM platform acquired by PTC in 2019 for $470M; founded by SolidWorks creators
- CEO / Founder
- Jon Hirschtick
- Stage
- Acquired
- Total Funding
- $470M
- Latest Round
- Acquired by PTC for $470M
- 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