In a recent announcement, Somerville-based 3D printer company Formlabs revealed that Microsoft Chief Marketing Officer Chris Capossela has been appointed to its board of directors. This move comes as Formlabs looks to leverage Capossela’s extensive experience and leadership skills gained during his 30-year tenure at Microsoft. Founded in 2011, Formlabs specializes in the sale of 3D printing hardware, software, and materials to businesses across various industries. With printers ranging in price from $2,500 to $25,000, the company has secured over $250 million in funding from notable backers such as Softbank, DFJ, Pitango, Kapor Capital, and Foundry Group.
Chris Capossela’s Background and Role at Microsoft
Chris Capossela has been an integral part of Microsoft’s success, holding various leadership positions throughout his career. As Chief Marketing Officer, he has played a crucial role in shaping Microsoft’s marketing strategies and promoting its products and services. Capossela’s deep understanding of the tech industry and his ability to navigate the ever-changing landscape make him a valuable addition to Formlabs’ board of directors.
Formlabs and the 3D Printing Industry
Formlabs has positioned itself as a leading player in the 3D printing industry, offering a comprehensive suite of products and services. Its printers cater to a wide range of businesses, from healthcare to jewelry, providing them with the tools they need to bring their innovative ideas to life. With an emphasis on quality, reliability, and affordability, Formlabs has gained a solid reputation within the industry.
The Significance of Chris Capossela’s Appointment
By appointing Chris Capossela to its board of directors, Formlabs is signaling its intent to further strengthen its position in the market. Capossela’s extensive experience and expertise in marketing and technology will undoubtedly provide valuable insights and guidance to the company. His presence on the board will help Formlabs navigate the competitive landscape and capitalize on emerging trends in the 3D printing industry.
Formlabs’ Ongoing Expansion and Funding
Formlabs’ success can be attributed in part to its ability to secure significant funding from reputable investors. With over $250 million in investment, the company has been able to fuel its growth and expand its reach. This funding has allowed Formlabs to continue developing cutting-edge technologies and expand its product offerings, ensuring it remains at the forefront of the 3D printing industry.
The Role of 3D Printing in Various Industries
The applications of 3D printing are vast and continue to expand across a wide range of industries. In healthcare, 3D printing has revolutionized patient care by enabling the creation of custom prosthetics, implants, and medical models. The jewelry industry has also embraced 3D printing, allowing designers to create intricate and unique pieces with ease. Additionally, 3D printing has found applications in architecture, automotive, aerospace, and many other sectors, demonstrating its versatility and potential.
Formlabs’ Competitive Advantage
Formlabs’ success can be attributed to several key factors that give the company a competitive edge in the 3D printing market. These factors include:
- Quality and Reliability: Formlabs’ printers are known for their high-quality output and reliability, making them a preferred choice for businesses seeking consistent and accurate 3D prints.
- Affordability: With printers available at various price points, Formlabs caters to businesses of all sizes, ensuring accessibility and affordability.
- Comprehensive Solutions: In addition to hardware, Formlabs offers a range of software and materials that seamlessly integrate with their printers, providing end-to-end solutions for customers.
- Strong Industry Partnerships: Formlabs has established strategic partnerships with industry leaders, allowing them to collaborate on research and development projects and expand their market reach.
Expanding Into New Markets
With the appointment of Jean-Luc Cervera as a business development senior consultant, Formlabs is set to expand its presence in the French, Belgian, and Italian markets. Cervera, who previously served as Vice President at Hitachi Data Systems, brings extensive expertise and knowledge of these markets, which will help Formlabs navigate the unique challenges and opportunities they present.
See first source: GeekWire
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