Boston-based Markforged has announced a change in executive structure.
The company is best known for high-strength 3D printing with both reinforced polymer and metal capabilities — just the sort of abilities targeted in the increasingly industrializing additive manufacturing sector. It’s that industrialization that in fact spurred the changeover.
Markforged was founded in 2013. Founder Greg Mark (Markforged) grew the company from an initial vision to a now globally operating venture now claiming 250 employees around the world — and one that has raised round after round of notable investment, totaling $137M in both strategic and venture capital.
Among the 3D printers available from Markforged today are:
- Metal X
- X7, X5, and X3 — Industrial Composite 3D Printers
- Mark Two, Onyx Pro, and Onyx One — Desktop Composite 3D Printers
3D printable materials available on those systems include:
- 17-4 PH Stainless Steel
- Inconel 625
- H13 Tool Steel
- A2 and D2 Tool Steel
- Composite Base
- Onyx FR
- Continuous Fiber
- Carbon Fiber
- HSHT Fiberglass
The company has been introducing a full portfolio of industrial-oriented additive manufacturing offerings, including some interesting work in AI. They have also been leading important conversations about the realistic disruption these technologies can offer. Earlier this year, Markforged achieved ISO:27001 certification, noting that they are the only 3D printer manufacturer to do so.
Every milestone they have achieved has had one major goal in mind: industrializing additive manufacturing.
Since the company’s founding, Greg Mark has been at the helm. In December 2019, the team welcomed Shai Terem as the new President and Chief Operating Officer.
Terem brings some solid experience, including several years in key roles at Stratasys. At Markforged, the company notes that he has already headed a few key achievements including:
- Reorganized the go-to-market strategy to have a channel-first approach
- Built a strong infrastructure for rapid, efficient and scalable growth
And now, Mark has transitioned to a more evangelical role in the future of the company and industry, as he is now named Chairman.
Lest the announcement sound surprising, the release clarifies:
“Today’s leadership announcements are the results of a planned succession and are designed to position the company for continued success in its next phase of growth.”
They also explain some of what we can expect of Terem’s leadership as well as more about his background:
“As CEO, Terem will lead the development and execution of short- and long-term strategies and day-to-day operations, positioning Markforged to continue delivering value to its key stakeholders as the company continues to scale. Since joining Markforged in December 2019 as president and chief operating officer, Terem has reorganized the go-to-market organization to have a channel-first approach while building a strong infrastructure for rapid, efficient, and scalable growth. Previously, he served as president of the Americas region at Kornit Digital, a worldwide market leader in 2D digital printing for textiles, and held various product marketing, finance, and operations roles with Stratasys.”
The gentlemen in question also share their perspectives. The new CEO says:
“I have been fortunate to spend the majority of my career in this industry–experience that gives me profound appreciation for the immense value that Markforged brings to organizations around the world. Our tools are designed to allow manufacturers to go from design to a functional part with unmatched efficiency to truly optimize the supply chain. It is an honor to take the helm of such a pioneering company, and I’m eager to play my part in our mission to reinvent manufacturing.”
And Mark adds:
“Leading Markforged for the past seven years as chief executive officer has been an amazing journey, and I’m incredibly proud of what we’ve built. Before Markforged, access to strong 3D printed parts was limited to those who could afford million-dollar machines. Today, we have parts flying in space, and on commercial and military jets; we have hundreds of thousands of parts used by frontline workers to fight COVID. All are printed on a platform that is robust enough for end-use aerospace, and affordable to high schools and colleges. We have democratized metal and carbon fiber 3D printing, and we’re just getting started.
We believe Shai will continue this progression and grow into more factories, schools, and design shops around the world. With his operator chops and considerable additive manufacturing experience, Shai has the right combination of skills to continue our rapid growth.”