Somerville-based Tulip was founded in 2014 by a group of MIT engineers. Now the company is ready for its next stage of growth and has its eyes on business overseas.
On Tuesday, Tulip announced that it closed a $39.5 million Series B. This includes the $18.4 million the company raised in February.
Tulip previously said that the funding from February would be used to expand its team, hiring for engineering and sales roles with the intent to more than double its employee headcount by the end of the year. Tulip says the new funding will help it open an office in Munich, Germany to support its growth in Europe, the Middle East, Africa and Japan.
It already has an office in London.
Tulip has built a platform that helps manufacturers build apps without code. The apps are meant to connect with machinery so manufacturers can keep track of what’s going on in their factories, bringing manufacturers into the IoT digital age. Several major manufactures use the Tulip platform, including Siemens, Toyota, New Balance and Kohler.
“We are proud of our new alliance. After all, digitization is human-centered. With the no-code platform employees can autonomously create manufacturing apps,” DMG MORI Chairman Christian Thönes said in a statement. “Tulip is the ideal entry into digitization mainly for our medium-sized customers.”
DMG MORI, a manufacturer of machine tools, led the funding round. It joins Vertex Ventures, NEA and Pitango as investors in Tulip.
