CloudNC raises $20M for AI-powered CAM Assist CNC tools — SkimNews
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- CloudNC raised a $20 million Series B extension on Wednesday, bringing total lifetime funding to $128 million; CEO Theo Saville told TechCrunch the company's last major raise was four years ago.
- CAM Assist plugs into existing CAM platforms like Autodesk Fusion and Mastercam to auto-select tools, approach directions, and cutting feeds and speeds, then drafts the CNC code for a human programmer to review and approve.
- CloudNC's CAM Assist is used by more than 1,000 machine shops worldwide, with 80% of its customer base in the U.S. and a team of 80 employees; the new capital is earmarked to widen adoption.
- Quote Agent, CloudNC's forthcoming product launching next month, automates cost-and-risk assessment for incoming jobs so shops can accept or reject work faster — Saville tied it directly to U.S. reshoring and the manufacturing labor shortage.
- Investors in the round include lead Nimble Ventures, Calculus Venture Capital, Entrepreneur First, and LM Capital — Lockheed Martin's venture arm.
Why it matters: With 80% of CloudNC's customer base in the U.S. and Lockheed Martin's VC arm on the cap table, the $20M extension is explicitly aimed at capitalizing on reshoring pressure: machine shops need to quote faster, program faster, and produce more output with the same shrinking skilled workforce.
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