CoLab Software, a St. John, Canada-based engineering design software company, raised CAD$5.6M in funding.
Backers included Hibernia and Hebron Projects.
The company intends to use the funds to around 60,000 hours of additional local software development to expedite the creation of its new product: ReviewAI. It also will accelerate:
- ML algorithms which can automatically identify similar design files.
- Generative AI to surface lessons learned or highlights from past reviews.
- New ways to view, interrogate and analyze 3D engineering data.
- Enterprise security, data protection and compliance controls.
Led by CEO Adam Keating, CoLab provides a cloud-based platform built for design review. Using it, multiple engineers, designers, and other stakeholders can review designs together and build off one another’s feedback, resulting in effective engineering reviews, including process, piping, and structural reviews.
Since the contribution was finalized, CoLab has hired 17 new full-time roles.
FinSMEs
19/03/2025