Transcend Software Inc., a Princeton-based engineering software company, has completed a $3 million funding round, it announced recently.
The company, which makes Software-as-a-Service tools for engineered infrastructure, said the Series A funding coincides with its spinout from Organica Water, a global provider of wastewater treatment solutions.
“We are thrilled to finally announce the spinout of Transcend from Organica and closing of our Series A round,” CEO Ari Raivetz said in a prepared statement. “This event marks the start of Transcend’s journey to transform the infrastructure industry by automating preliminary engineering and design.”
The funding round was led by Vespucci Partners, a European private equity firm, and included existing shareholders CITIC Capital, Idinvest Partners and XPV Water Partners.
“One of the primary reasons we invested in Transcend was because they are aimed squarely at solving the biggest challenge for innovation and acceptance of sustainable technologies around the world: the way engineering firms currently do business,” Vespucci’s Karoly Szanto said in a statement.