COEUR D’ALENE, Idaho–(BUSINESS WIRE)–Continuous Composites Inc., a pioneer and innovator in the additive manufacturing industry, today announced the successful closing of its $17 million Series A financing led by B. Riley Venture Capital (BRVC), a subsidiary of B. Riley Financial, Inc. (NASDAQ: RILY) (B. Riley). This latest investment follows prior funding rounds led by strategic partners Arkema S.A. (EPA: AKE) and Saint-Gobain S.A. (EPA: SGO).
B. Riley Venture Capital employs a strategy focused on investing in late-stage private growth companies with a path towards public markets. BRVC’s mission closely aligns with the company’s growth strategy, and access to B. Riley’s full suite of investment banking solutions makes BRVC an ideal partner for Continuous Composites. This round of financing provides Continuous Composites with the growth capital to commercialize its proprietary Continuous Fiber 3D Printing (CF3D®) product offerings, as well as advance and protect the company’s expansive patent portfolio.
CF3D® is an innovative additive manufacturing solution that combines high-performance continuous fibers with rapid curing resins in a 3D printing process to enable affordable manufacturing of complex composite structures. An industry-agnostic automated solution, CF3D® is comprised of configurable hardware, proprietary software, and tailorable material solutions for strong yet lightweight applications.
“We are thrilled to partner with Tyler and the entire Continuous Composites team as they bring their disruptive technology to the market,” said Todd Sims, President of B. Riley Venture Capital, who will be joining the Continuous Composites board as part of this investment. Mr. Sims added, “We were drawn to Tyler’s vision and leadership, the attractive revenue and margin profile of the business, and their blue-chip customers, both industrial and governmental, which we see as clear validation of the CF3D® technology.”
Tyler Alvarado, Continuous Composites CEO, commented, “This round of financing provides us with the growth capital to address the extraordinary demand from our customers. Over the years, we have taken a purposeful approach toward building breakthrough technology supported by a strong team and intellectual property portfolio, and we welcome Todd and the B. Riley team to our stakeholder group as we advance to the next phase of corporate development.”
About Continuous Composites
Continuous Composites Inc., headquartered in Coeur d’Alene, Idaho, is disrupting manufacturing with its patented composites 3D printing technology, Continuous Fiber 3D Printing (CF3D®). Founded in 2012, the company accelerates the 3D printing industry with a comprehensive patent portfolio. The CF3D® process leverages the advantages of continuous fiber composite materials with a 3D printing process to print high-strength, light-weight parts on demand. CF3D® significantly reduces cost, lead times, labor, and other traditional constraints found in manufacturing. To learn more, visit www.continuouscomposites.com.
