CoLab Software, founded in Newfoundland and Labrador, Canada, is a technology company that offers innovative collaboration solutions specifically tailored for mechanical engineering and hardware development teams. The platform aims to streamline design review processes by enabling teams to share CAD files, automate issue tracking, and facilitate real-time feedback, significantly improving design quality and reducing development time. CoLab Software was co-founded by Adam Keating and Jeremy Andrews, both of whom identified the inefficiencies in existing engineering tools. The company has successfully raised substantial funding, with its most recent Series B round totaling $21 million in 2024.
| Attribute | Information |
|---|---|
| Founding Date | 2016 |
| Headquarters | St. John’s, Newfoundland and Labrador, Canada |
| Founders | Adam Keating, Jeremy Andrews |
| Industry | Engineering Software, CAD, Collaborative Software |
| Key Investors | Insight Partners, Y Combinator, Killick Capital, Pelorus VC |
| Number of Employees | Approx. 150 |
Adam Keating and Jeremy Andrews conceptualized CoLab Software out of necessity. In their early careers, both founders experienced firsthand the inefficiencies plaguing traditional engineering collaboration tools, particularly in design review and communication. In 2016, they launched CoLab with a vision to modernize and optimize these processes using cutting-edge software solutions. The company quickly garnered attention from the tech community, allowing it to be admitted to Y Combinator, making CoLab one of the first Atlantic Canadian companies to join the prestigious accelerator. Supported by the Atlantic Canada Opportunities Agency, CoLab expanded its team and technology footprint, substantially contributing to its early growth and success.
CoLab Software has revolutionized mechanical engineering collaboration through its cloud-based platform, known as the Design Engagement System (DES). This platform empowers teams with real-time CAD collaboration, feedback capture, and issue tracking, all integrated with leading PLM systems such as Windchill and Teamcenter.
Significant achievements include:
CoLab Software continues to set the standard in engineering collaboration, specializing in the development and sale of software that dramatically improves the design review process. As of 2024, the company stands robust in the market, leveraging its latest AI-based enhancements and expanding its customer base globally.
With a competitive edge in engaging collaborative tools that optimize design reviews, CoLab holds a significant market share among industries relying on mechanical design and CAD software. The platform’s unique ability to reduce communication barriers and enhance feedback mechanisms sets it apart from traditional systems.
CoLab Software plays a pivotal role in shaping the future of engineering collaboration. By breaking conventional barriers in design processes, CoLab has positioned itself as a crucial player in the tech industry, promoting innovation and efficiency. Its strategic use of AI, combined with an ambitious product development roadmap, indicates a promising trajectory that could revolutionize hardware engineering and mechanical design processes worldwide.