B2B marketplace

A parts marketplace revs up funding

A privately held B2B marketplace targets automotive repair shops, parts distributors and manufacturers that try to run their businesses more effectively and profitably through ecommerce has $35 billion.

The influx of working and business development cash from OpenView and PartsTech’s existing investors, including Insight Partners and BP Ventures, will be used for new product and business development, says PartsTech’ founder and CEO Greg Kirber.

“This additional investment from OpenView will allow us to scale our team and invest more aggressively in developing solutions that power critical repair operations and keep vehicles and people moving,” Kirber says.

Prior to the latest round of capital, PartsTech had previously raised about $16.5 million, says Crunchbase.com.

Boston-based PartsTech is a B2B marketplace and parts procurement platform. It enables auto repair facilities to find the right parts when needed. PartsTech currently connects about 15,000 auto repair facilities with a network of 30,000 supplier locations, the company says.

The marketplace has been in operation and claims to have $2.4 billion in assets under management.

Want to become a member?

Become a member of the B2B eCommerce Association for free today. Connect, learn and find new opportunities. 

About the B2BEA

The B2B eCommerce Association is a global network and resource hub for B2B practitioners, offering invaluable opportunities to connect and learn. Our mission is to empower manufacturers and distributors in their eCommerce and digital transformation journeys through useful tools, practical resources and exceptional networking opportunities. Join us to thrive in our dynamic industry

Want to become a member?

Become a member of the B2B eCommerce Association for free today. Connect, learn and find new opportunities. 

Want to become a member?

Become a member of the B2B eCommerce Association for free today. Connect, learn and find new opportunities. 

About the B2BEA

The B2B eCommerce Association is a global network and resource hub for B2B practitioners, offering invaluable opportunities to connect and learn. Our mission is to empower manufacturers and distributors in their eCommerce and digital transformation journeys through useful tools, practical resources and exceptional networking opportunities. Join us to thrive in our dynamic industry

Want to become a member?

Become a member of the B2B eCommerce Association for free today. Connect, learn and find new opportunities. 

Recommended

Recommended

Your member type

Are you working for a manufacturer, distributor or retailer?

Login type

Are you working for a manufacturer, distributor or retailer?