CloudNC, a UK-based manufacturing software startup, announced a $20 million B extension round on Wednesday, bringing its lifetime total raised to $128 million. The funding round was led by Nimble Ventures, with participation from Calculus Venture Capital, Entrepreneur First, and LM Capital, Lockheed Martin’s venture arm. This marks the company’s first major raise in four years, as co-founder and CEO Theo Saville confirmed.
Founded in 2015 by Saville and Chris Emery, who now serves as chief science officer, CloudNC has developed AI-powered CAM Assist software that automates key aspects of Computer Numerical Control machining. CNC machining is a critical manufacturing process that uses computer-controlled machines to precisely cut or shape materials into parts used across automotive, defense, and consumer hardware industries.
The innovation behind CAM Assist addresses a fundamental challenge in the manufacturing workflow. Before any part can be cut, machinists or computer-aided manufacturing programmers must make crucial decisions about how parts should be held, which tools to use, and other strategic considerations. While traditional CAM software provides powerful capabilities, these systems still require programmers to manually specify machining strategies for each part.
CAM Assist takes a different approach by plugging directly into established CAM systems like Autodesk Fusion or Mastercam. The software functions as an intelligent assistant, automatically selecting suitable tools, determining approach directions, calculating cutting feeds and speeds, and drafting the code that instructs CNC machines. Users then review, edit, and approve the results, maintaining expert oversight while dramatically reducing repetitive setup work. According to Saville, the goal is to make skilled workers more efficient and productive rather than replacing human judgment entirely.
The company has achieved significant market traction, with more than 1000 machine shops worldwide now using CAM Assist. The customer base spans both manufacturers and other companies, with 80% located in the United States. CloudNC currently employs a team of 80 people, and scaling adoption remains the company’s primary objective.
The new funding will support several strategic initiatives, including broader adoption of CAM Assist, strengthened go-to-market operations, expansion in existing and new markets, and development of new products. Chief among these new offerings is Quote Agent, a product targeting manufacturers that is set to launch next month. Similar in concept to CAM Assist, Quote Agent helps machine shops quickly assess the estimated cost and risk of new projects, enabling faster decisions about accepting or rejecting work.
Saville connected the company’s mission to broader industry challenges, noting that machine shops need to quote faster, program faster, and deliver more with their existing workforce and equipment. The complexity of the problem CloudNC addresses is substantial, as Saville explained that there are more ways to machine a typical CNC part than there are atoms in the universe. The company has spent years refining its approach through operating its own factory, building proprietary software, and learning from real-world machining experiences to reach its current position in the market.