If you haven't heard of MATLAB, chances are you aren't a scientist or engineer. The MathWorks provides technical computing software used for data analysis, visualization, and mathematical computations. Its MATLAB, Simulink, and Polyspace products are used in such industries as aerospace, automotive, communications, electronics, financial services, and industrial automation. Applications for MathWorks' products have included hybrid electric vehicle design, race car performance improvements, paper currency verification, and the development of algorithms for DNA sequencing instruments used in mapping the human genome. MathWorks products are also used for teaching and research at more than 5,000 universities.
With operations in some 15 countries, MathWorks gets some 60% of its revenues from outside the US.
There are more than 1 million users of MATLAB worldwide and MATLAB-based books in 28 languages. MATLAB is increasingly being used as a chip design tool, with the software being incorporated into design suites from such vendors as Agility Design Solutions, Altera, and Xilinx, among others.
Both MATLAB and Simulink were used by General Motors to design the Chevrolet Volt. At the Cleveland FES Clinic at Case Western Reserve University, researchers have used MathWorks tools to reduce development time for functional electrical stimulation (FES) devices. FES devices are being used to restore movement to patients with neuromuscular disabilities.
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The company serves a wide range of industries, including Aerospace and Defense, Automotive, Communications, Electronics and Semiconductors, Energy Production, Financial Services, Industrial Automation, Machinery, Medical Devices, and Metals.
MathWorks's major customers have included such heavy hitters as General Dynamics, Harris Corporation, Honeywell, General Motors, Jaguar, Hyundai, Genentech, Max Planck Institute, Broadcom, Motorola, Nokia, Intel, Lucent Technologies, Bank of America, Capgemini, Xerox, the University of Cambridge, and the University of Melbourne.
In 2013 MathWorks reported revenues of $750 million, which was what it reported the previous year. The company has been profitable every year since its founding.
The company's growth strategy includes an emphasis of innovation, competitive awareness, and outstanding service to customers.
MathWorks released Simulink Real-Time in 2014. With it engineers can build, test, and run real-time applications from Simulink models on dedicated target computer hardware connected to their physical systems.
In 2013 MathWorks introduced its new LTE System Toolbox, providing standard-compliant simulation, verification, and analysis of LTE and LTE-Advanced wireless communication systems and devices. An extension to its MATLAB and Communications System Toolbox, it is used by engineers to design wireless systems conforming to the LTE standard. That year, the company also expanded its Polyspace portfolio by introducing two new code verification tools: Polyspace Code Prover and Polyspace Bug Finder.
The company was co-founded in 1984 by majority owners John (Jack) Little (President), Cleve Moler (Chairman and Chief mathematician), and Steve Bangert.