Battery Ventures (Boston, MA) has acquired software company SigmaTEK Systems (Cincinnati, OH), whose SigmaNEST nesting software helps professional fabrication and manufacturing companies operate more efficiently on the shop floor.
SigmaTEK will continue to focus on growing its business in the sheet-metal market and plans to use its new resources to invest in product development, customer service, and sales and marketing. In partnership with Battery Ventures, the company intends to pursue acquisitions to extend its industry reach and expand its global footprint. The company currently has offices in 19 countries.
The company also named veteran technology-industry executive Robbie Payne as its new CEO, who most recently served as the senior vice president of operations at education technology company IO Education (Atlanta, GA). Previously, he held senior roles at Horizon Software International (Duluth, GA).
Robbie Payne, SigmaTEK Systems' CEO.
Companies serving the aerospace and defense, automotive, agriculture, construction, shipbuilding, energy, commercial foodservice, and other industries use SigmaTEK's products. The company, which was founded in 1993, uses highly advanced algorithms to automate the nesting process for laying out and cutting materials (including metal, wood, and composite), and helps customers optimize material yield, product quality, machine capabilities, and manufacturing processes.
Battery Ventures is also an investor in another Cincinnati-based software company, Clubessential*, that provides a full suite of membership and club-management software to private clubs, health and fitness clubs, and college athletic programs.