SPREAD — Make Product Information Easily Accessible and Actionable
Tech DD on Engineering Intelligence Startup for Complex Mechatronic Products
SPREAD has successfully wrapped up its Series A funding, securing €14.6 million. The round was led by HV Capital and also saw the participation of Cavalry Ventures. Angel investors Dylan Field, the Co-Founder & CEO of Figma, the visionaries behind the logistics unicorn, Sennder, and Walter Kortschak, the founder of Summit Partners, were also on board.
In the lead-up to this funding round, Philipps & Byrne provided the Product and Tech Due Diligence, ensuring a comprehensive assessment of SPREAD’s tech stack.
SPREAD operates an Engineering Intelligence Network, a transformative platform that bridges various forms of product data to provide engineering teams with a clear, unbiased understanding of intricate systems such as automobiles, aircraft, and machinery.
- Location: Berlin, Germany
- Business Context: Engineering Intelligence
- Tech Landscape: SaaS
- Round: 14.6 Million Dollar
Tech Due Diligence: Assessing SPREAD’s Engineering Intelligence Platform
SPREAD wants to provide easy access to product information, making it effortlessly accessible and actionable for all. Their intelligent algorithms understand the interplay of the mechanics, electronics, and software domains. Combining this with information about a product’s requirements, functions, logic, and physics gives engineers unprecedented insights about a product that can scale along with its complexity. SPREAD combines existing data across engineering domains to create unprecedented insights that drive magnitudes of improvement across the whole product lifecycle.
In a comprehensive Tech Due Diligence, Philipps & Byrne evaluated the technological landscape at SPREAD. We looked at the dynamics within the leadership, tech team and product management. Furthermore, we assessed the organizational framework, the fundamental architecture supporting the tech stack, the hosting and the infrastructure. The software delivery and quality assurance processes, as well as security and privacy, were also analyzed.
The insights were delivered in a report intended to give the investors a solid risk and opportunity assessment and also help SPREAD on their ongoing journey of growth and scaling their tech and product organization.
About SPREAD
SPREAD’s mission is to make product information easily accessible and actionable for everybody. Their Engineering Intelligence Network is a knowledge graph for systems engineering. It connects all kinds of product information to help engineering teams gain an objective understanding of ultra-complex systems like cars, aircraft, and machinery. With use cases from R&D to Aftersales, SPREAD’s Engineering Intelligence Network is helping customers like Mercedes, Porsche, and VW accelerate development cycles, increase quality, eliminate millions in inefficiencies, and reduce their environmental footprint.
Visit: www.spread.ai
About HV Capital
Since 2000, HV Capital, formerly HV Holtzbrinck Ventures, has backed Internet and technology companies through various generations of funds and is one of the most successful and financially strongest early-stage and growth venture capitalists in Europe. HV’s funds have already invested in around 200 companies, including Zalando, Delivery Hero, FlixBus and SumUp. The total of all HV‘s funds amounts to €1.7 billion. The company supports startups with capital between €500,000 and €50 million. This makes HV Capital one of the few venture capitalists in Europe that can back startups through all growth phases.
Visit: hvcapital.com