– Engineers Adam Keating and Jeremy Andrews launched startup CoLab to build a better collaboration tool for mechanical engineers
– CoLab’s tools allow engineers to review design files, capture feedback, and track issues from a single dashboard
– The company raised $21 million in Series B funding to accelerate growth, with plans to expand the team and further develop AI capabilities.
Engineers Adam Keating and Jeremy Andrews launched a startup, CoLab, to create a better way for mechanical engineering teams to collaborate. They were tired of using spreadsheets and screenshots to share designs and feedback, which led to long review cycles and issues slipping through the cracks. The company’s tools allow engineers to review designs, capture feedback, and track issues from a single dashboard. CoLab’s tools are now being used by companies like Ford, Johnson Controls, and Schneider Electric.
CoLab stores customer design data in the cloud and has built-in sharing tools that allow engineers to send files to suppliers while keeping certain information private. While AI is not currently a significant part of the CoLab experience, the company plans to integrate it in the coming months to help engineers make more informed decisions and automate routine tasks and admin work based on user-generated natural language data.
The company recently raised $21 million in a Series B funding round led by Insight Partners, with participation from Y Combinator, Killick Capital, and Pelorus VC. This funding will be used to accelerate the company’s go-to-market strategy and invest in AI technology. CoLab has doubled its revenue in the past six months and plans to release paid add-ons to further boost profits. They also plan to expand their team from 86 to 120 people by the end of the year as they grow in Canada and the U.S.