April 7, 2022
MARKT-PILOT secures 6.2 million euros seed funding round
We are proud to announce that we have secured a 6.2 million euros seed funding round with the renowned venture capital investor Capnamic 🎉Since 2016, our two founders Tobias Rieker and Amin Oumhamdi have been working on the AI-based SaaS solution, which determines parts price and lead time information from tens of thousands of national as well as international webshops on a daily basis at the push of a button and compares it with information from machine manufacturers.
„Thousands of parts are continuously required worldwide and not a single one is benchmarked with the market. Due to this lack of transparency, parts prices have so far always been calculated on the basis of a traditional cost-plus logic. The only solution for this problem is provided by our software, which lays the foundation for the paradigm shift from cost-plus to market-oriented parts pricing.“, says our CEO Tobias Rieker.
Since the launch of MARKT-PILOT in April 2020, we have realized more than 70 customer projects and have grown from 2 to almost 60 employees (as of April 2022). With this growth we have conquered the market leadership in the category "market intelligence for industry parts" and have opened a second location in Chicago. We have accomplished all of this especially because of our great crew, strong partners, and high customer focus.
With Capnamic on board, the MARKT-PILOT team plans to scale the business and strengthen its leadership position. The 6.2 million euros will be invested in three key areas: Scaling the US market, expanding the software solution capabilities and strategic growth in the newly created 7.8 billion euros software category ‘market intelligence for industry parts’.
We are very proud of how MARKT-PILOT has matured and look forward to all that is yet to come 🚀