PTC, formerly known as Parametric Technology Corp., was founded in Massachusetts in 1985 as a CAD software provider. Over the years, the company expanded into product and service lifecycle management, and more recently, it entered the burgeoning Internet of Things market. The firm generates over $1 billion in revenue per year and derives this total from a balanced geographic mix. PTC has approximately 6,000 employees, about 35% of whom are based in the United States.