PRINCETON, N.J., May 12, 2021 /PRNewswire/ -- Transcend Software Inc. ("Transcend"), a SaaS provider of generative design and engineering automation tools to the global engineering, construction, technology/OEM, and utility sectors announces the completion of a $10M Equity Investment led by Aspen Capital Group, HG Ventures, and PureTerra Ventures, also with participation from existing investor Vespucci Partners.
Transcend's SaaS platform, the Transcend Design Generator ("TDG"), is the market's first fully integrated water treatment design platform, enabling industry participants to design more sustainable water and wastewater facilities in a fraction of the time and cost compared to traditional, manual methods. Designs can easily incorporate new technologies and be assessed for CAPEX, OPEX, land footprint, carbon footprint, and other variables with a level of detail & accuracy that are typically much too time and cost prohibitive for the preliminary engineering phase. Developed by many of the world's leading experts in water and wastewater engineering, TDG has been used since 2013 to design over 7,500 treatment facilities to date. Transcend will use the proceeds from the investment to drive continued innovation across the water infrastructure market.
As our climate crisis worsens, the world is struggling with aging sanitation systems and water treatment facilities that must meet ever increasing regulatory limits and adopt more sustainable treatment strategies. Many of the technologies required to meet these challenges already exist, but they struggle to gain widespread adoption due to inefficient procurement processes and the time and resource intensity of preliminary engineering. Transcend exists to tear down these barriers and streamline preliminary engineering, thereby transforming the way engineering firms, utilities, and technology suppliers assess and design critical infrastructure.
"The water industry is full of new innovations, but the ability for these technologies to be incorporated into feasibility studies and actual projects is a major challenge. By using software to automate preliminary engineering, Transcend aims to rapidly change the way technology is specified and sold in this industry. The time and money saved will be shifted to investment in the actual infrastructure itself," said Ari Raivetz, CEO of Transcend. "We are thrilled to add three new investors that each come with a great wealth of industry expertise and a passion for elevating innovations within the water and environmental services sectors."
"Transcend was created from a need for faster design generation. TDG provides tangible savings to customers and drastically expediates the design process. We are thrilled to partner with Ari, Steve and the entire Transcend team as their innovation drives change across the global water infrastructure market," said John Haesler, of Aspen Capital Group. "Transcend's team is creating a new category of software solutions that bridge the gap between engineering disciplines to achieve improved design alternatives and increased water infrastructure opportunities."
"At PureTerra we have a database of over 1,000 water technologies from around the world to filter from. Transcend was an easy investment decision," said Alex Crowell, Partner at PureTerra Ventures. "Having personally spent more than 25 years in the water industry this type of technology is long overdue. Engineering firms traditionally default to what they did last or what they know best. Transcend changes that antiquated line of thinking and working by offering automated preliminary engineering on a variety of treatment options in a fraction of the time. This results in major cost savings and the ability to expand in house competencies for the end user. We are excited to become part of the team at Transcend but even more excited for what the TDG offering can do for the industry."
Transcend continues to expand its customer portfolio with global clients including United Utilities and Black & Veatch. Transcend's platform enables organizations to change their business processes and improve client engagements resulting in higher win rates and operational efficiencies.
Transcend software automatically produces accurate, complete, innovative, and sustainable preliminary engineering designs for EPC, AEC, Asset Owners, and Water Technology OEMs.
About Aspen Capital Group Aspen Capital Group is a growth equity firm that partners with founders and entrepreneurs to build industry-leading technology and tech-enabled services businesses. Aspen's approach to creating value focuses on identifying and continuously driving toward the key product and customer initiatives required to achieve and maintain market leadership. Aspen Capital brings significant expertise and resources, and is an ideal partner to founders and entrepreneurs looking to building leading companies. Learn more by visiting their website http://www.aspencapgroup.com or reaching out at [email protected]
About HG Ventures HG Ventures is the corporate venture arm of The Heritage Group. HG Ventures supports innovation and growth across The Heritage Group by investing and partnering with private companies developing new technologies and approaches in both our core and adjacent markets. We leverage the world-class expertise of The Heritage Group operating companies and research center to offer a unique value proposition to our portfolio company partners.
About PureTerra Ventures PureTerra is a Venture Capital firm focused on investing in disruptive water technologies with offices in Amsterdam Netherlands and Shanghai China. The fund combines strong entrepreneurial experience, a proven track record in driving sales and a vast network in the global water technology market. This creates a unique value proposition for our portfolio companies. The PureTerra Ventures China office has access to the largest network of distributors, utilities, government departments, blue chip companies and other key players in the Asian water market. We leverage these networks to actively contribute to the commercial success of our portfolio companies. We are not just a financial investor, but a strategic partner in the global water market. Learn more about PureTerra by visiting the website http://www.pureterra.com or by reaching out to [email protected]