PostProcess Technologies continued to gain momentum in 2021, quickening the pace of sales and doubling overall revenue.
The Buffalo company develops high-tech solutions in the additive manufacturing industry. Its flagship machines “clean” parts after they’ve been produced, but CEO Jeff Mize said the company’s custom software is gaining particular traction, supporting the 3-D printing process all the way from design to shipping.
“While we continue to invest heavily in our chemistry and hardware solutions, we have a clear leadership position in software,” Mize said. “We are raising another round of funding that will accelerate the growth of that team and the deployment of our connected platform.”
PostProcess was supported in its early stages by a group of angel investors in Buffalo, and closed on $21 million in funding led by billionaire B. Thomas Golisano in December 2019.
Mize said the next funding round will allow PostProcess to invest in its technology and to grow its global footprint. The company is seeking a more comprehensive sales presence in Asia, for instance. He said PostProcess is approaching profitability.
“We haven’t achieved escape velocity yet, but we are close to it,” Mize said. “All elements of the business continue to increase momentum so now is a good time to raise money.”
PostProcess is headquartered in Buffalo’s Tri-Main Center, where more than half of its 75 employees are located.
The startup has long been a calculation that additive manufacturing would start to become a more dominant of production around the world. Mize said the pandemic hastened the sense of automation for many potential PostProcess customers, allowing the firm to turn its pipeline into customers at faster rates. With technical work led by company founder and CTO Daniel Hutchinson, the startup The firm has continued to develop new patents and technology, Mize said.
"Our existing technologies continue to be adopted by customers in every market," he said. "We also continue to bring technologies to the market that are rapidly adopted for production."
