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Aras gets funding from GE venture arm

Aras, an Andover-based company that builds software to help businesses manage the development of complex products, said Wednesday that it had raised $40 million in new investment from a group that includes the venture arm of General Electric Co.

The 17-year-old company, whose clients include Airbus, General Motors, Hitachi, Honda, and Microsoft, has raised a total of $64 million to date. It said it would use the money to expand its operations and potentially acquire other companies.

“Enterprises need a much more flexible, scalable and upgradable platform for the business of engineering,” said Peter Schroer, founder and chief executive of Aras.


The funding round was led by Silver Lake Kraftwerk, and included participation from GE Ventures, whose parent company is also an Aras customer.

Andy Rosen can be reached at andrew.rosen@globe.com. Follow him on Twitter at @andyrosen.