Volition, a San Francisco, CA-based online industrial parts marketplace designed specifically for the needs of the hardware development world, raised $11M in Seed funding.
The round was led by Newark Venture Partners and Quiet Capital, with participation from Lachy Groom, Alan Rutledge, Julian Capital, and Humba (Susa) Ventures.
The company intends to use the funds to further scale their marketplace, as well as build out new features that let customers improve their sourcing while increasing retention.
Founded by Nick Pinkston, Natalie Klapper, and Duffy Tilleman, Volition enables customers to search across a large collection of products, and filter down to just the products that meet their exact specifications. Volition is able to organize the entirety of this industry’s products and make them searchable and purchasable in one place. The company’s product data engine uses automation and AI to empower human experts to create a high quality catalog at scale.
The company already boasts many customers from the Fortune 500 and beyond who collectively spend hundreds of millions of dollars annually on these components. It has also signed a wide range of distributors, who already sell billions of dollars of these products, to list their full catalogs on their platform.
FinSMEs
25/05/2023