What Enigma does

Enigma is an Israeli software company founded in 1992 by co-founder Jonathan Yaron and headquartered in Herzliya, Israel. The company's short_description is "Software for Industrial Machinery," positioning it in the industrial software and Product Lifecycle Management (PLM) segment. The firmographic record lists 5,001-10,000 employees and a website URL pointing to ptc.com, indicating that Enigma's official web presence has been subsumed by PTC, a global PLM software vendor whose offerings include Windchill, FlexPLM, Creo, ThingWorx, Vuforia, Kepware, Servicemax, Servigistics, Codebeamer, Arbortext, Onshape, and Arena.

Enigma's capital-markets history in the input includes a $20 million Series C financing on May 23, 2000, led by Walden Venture Capital with participation from BancBoston Ventures, Bankers Trust, Deutsche Bank, GE Equity, ING Barings, and Sumitomo. The presence of GE Equity as a strategic investor is consistent with industrial-software customer overlap. The combination of an Israeli R&D base, industrial-machinery software positioning, and integration into PTC's broader PLM portfolio points to a B2B enterprise-software business model with long sales cycles, multi-year enterprise contracts, and high switching costs typical of engineering and manufacturing platforms.

Important caveat: the input data is materially conflated. Two unrelated "Enigma" entities appear in the source material — an influencer marketing agency operating in Switzerland and "Enigma Fishing," a sports affiliate program brand. These are distinct from the Israeli industrial-software entity and should not be conflated. Additionally, the linked ptc.com content describes PTC broadly rather than Enigma specifically, so claims about products, customers, and scale should be read as referring to the post-acquisition combined entity rather than Enigma as a standalone firm.

Name

Enigma

Website

https://ptc.com

Company type

Private

Founded year

1992

Operating status

Unknown

Headcount range

5,001–10,000 employees

Short description

Enigma is an Israeli industrial-machinery software company founded in 1992 by co-founder Jonathan Yaron and based in Herzliya. It raised a $20M Series C in 2000 led by Walden Venture Capital and is now linked to PTC's PLM software platform.

Ownership category

akta.pro rank

Product category

Industrial Machinery Software

NAICS

Software Publishers (5132), Computer Systems Design Services (541512), Custom Computer Programming Services (541511)

SIC

Services-Computer Integrated Systems Design (7373), Services-Computer Programming, Data Processing, Etc. (7370), Special Industry Machinery (No Metalworking Machinery) (3550)

akta.pro primary industry

Industrial Automation Software (SCADA, HMI, MES, Historian) (IMAHAHAJ)

akta.pro secondary industries

Technical Documentation & Knowledge Management (Playbooks, Runbooks, Enablement Kits) (BPAEANAM), OT Asset Discovery, Inventory & Vulnerability Management (HDADAJAE)

Keywords

• Industrial machinery software
• Product lifecycle management
• Computer-aided design
• Engineering software
• Discrete manufacturing software

Headquarters

HQ city

Herzliya

HQ country

Israel

HQ region

Middle East

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Marketing or Sales, Operations, Infrastructure

Core offering

Enigma was a software company that developed and sold software for industrial machinery, headquartered in Herzliya, Israel. Its offering focused on computer-aided engineering and product development tooling used by discrete manufacturing companies. The company's industrial software capability was subsequently integrated with PTC's broader product lifecycle management portfolio (CAD, PLM, IIoT, service lifecycle management).

Differentiator

Problem solved

Functional benefit

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Recent moves5 records

Expansion highlights5 records

Broad incumbents

• AVEVA: AVEVA (Schneider Electric) provides industrial software for plant design, operations, and digital twin, overlapping with PTC's industrial and process-manufacturing footprint. Both vendors serve large industrial customers seeking to unify engineering and operations data.
• ANSYS: ANSYS is a leader in engineering simulation that frequently appears alongside PTC Creo/Windchill in customer workflows. It competes in CAE adjacency (simulation-driven design) and is increasingly integrated into PLM-centric design processes targeting the same discrete-manufacturing accounts.
• Honeywell Forge: Honeywell's Forge industrial software suite targets connected operations, asset performance, and digital twin for industrial customers that also deploy PTC's IIoT stack. It competes for OT/operations wallet share in process and discrete manufacturing.
• Rockwell Automation: Rockwell Automation sells industrial automation and software (FactoryTalk, Plex Systems) to overlapping discrete-manufacturing customers. While stronger on the OT/MES side, it competes with PTC's ThingWorx/Kepware franchise for the industrial software wallet.
• Hexagon (MSC Software): Hexagon's Design & Engineering arm (formerly MSC Software, Hexagon Manufacturing Intelligence) offers CAD/CAM/CAE software (e.g., Adams, Actran, EDEM) and metrology/quality solutions that compete with PTC's Creo and quality management offerings in industrial accounts.

Direct peers

• Autodesk: Autodesk competes directly with PTC's Creo franchise in CAD (Inventor, Fusion 360) and increasingly in PLM and manufacturing (Autodesk Fusion Manage, Prodsmart). Fusion 360's SaaS model overlaps with PTC's Onshape and Arena offerings.
• Dassault Systèmes: Dassault Systèmes is the most direct PLM and 3DEXPERIENCE competitor to PTC, offering CATIA, ENOVIA, and SOLIDWORKS across discrete manufacturing, automotive, aerospace, and life sciences. It competes head-to-head on PLM platform deals and increasingly bundles CAD and simulation into integrated offerings.
• Siemens Digital Industries Software: Siemens Digital Industries Software (formerly Siemens PLM) sells Teamcenter, NX, and Solid Edge as a tightly integrated CAD/PLM/MES stack. It is PTC's closest rival in the largest discrete-manufacturing accounts and benefits from integration with Siemens' broader automation portfolio.

Emerging players

• Altair Engineering: Altair competes in simulation, design, and HPC with growing exposure to digital-twin and industrial AI. Its platform overlaps with PTC's CAD/PLM-adjacent workloads and is increasingly bundled into industrial customers' engineering toolchains.

Regional players

• Bentley Systems: Bentley Systems is an infrastructure engineering software leader (iTwin, OpenRoads, PlantSight) that competes with PTC in plant/manufacturing-facility design and digital-twin use cases, particularly in process and infrastructure-heavy segments overlapping PTC's industrial base.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks5 records

Key highlights5 records

Customer concentration

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors8 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Enigma