CoLab Software Secures $28.6M in Series B Funding to Revolutionize Engineering Design Reviews

We’re thrilled to announce that CoLab Software has raised $28,600,000 in our latest funding round, marking a significant milestone in our mission to revolutionize the design review process for engineering teams across the globe. With product complexity on the rise and teams growing larger and more specialized, traditional design review methods are increasingly inadequate—43% of feedback goes undocumented, 87% of engineering leaders report long delays in tracing design rationale, and 90% of companies experience launch delays due to late-stage design changes. Recognizing these challenges, CoLab has developed a cloud-based platform that transforms how engineers, designers, and stakeholders collaborate by capturing every crucial insight in real-time. Our platform enables dynamic, collective design reviews by integrating all the necessary data, including CAD files, into one accessible system. This powerful solution not only streamlines the review process but also ensures that all feedback is properly captured and tracked through to resolution, thereby eliminating the inefficiencies of scattered emails, spreadsheets, and notebooks. The recent injection of $28.6 million will be strategically utilized to enhance our core technology, expand our team, and accelerate the rollout of new features that further integrate with existing PLM systems. With these funds, we are poised to empower organizations to make more informed product decisions, bring faster innovations to market, and ultimately reshape the future of design engagement. CoLab’s Design Engagement System is the answer to longstanding operational challenges, offering a completely new and much-needed way for engineering teams to work together seamlessly within today’s fast-paced product development environment.