MARKT-PILOT announced the completion of one of Europe’s largest Series A funding rounds, led by global software investor Insight Partners with participation from existing investor Capnamic. The company will use the funding further to expand its business in Europe and the US, solidifying its position as a global player in the manufacturing market.
Since launching in 2020, MARKT-PILOT has been transforming the manufacturing industry with PRICERADAR, a unique global SaaS solution for market-based spare parts pricing. And PRICERADAR automatically researches prices and delivery times of spare parts and thus shows customers their competitive position and sales potential. Following the success of PRICERADAR, the company launched its second product called PRICEGUIDE last year – a solution that provides optimized and validated price recommendations for customers’ spare parts portfolio.
KEY QUOTES:
“More than 100 customers have recorded a more than 20% average increase in sales of their spare parts as a result of using MARKT-PILOT’s software solution. It’s the ultimate vote of confidence in our results and the viability of our business model that one of the world’s most visionary tech investors has placed their trust in us. With the support of Insight Partners, we will continue to expand and invest in the further development of our products and AI.”
– Alex Morbe, CEO of MARKT-PILOT
“We are very proud of our great, highly motivated team in Esslingen, Chicago, Milan and Stockholm. Now we have the opportunity to further grow and attract more talent to our company.”
– Dr. Martin Ruth, CFO of MARKT-PILOT
“With its innovative software solutions, MARKT-PILOT offers manufacturing companies around the world previously unimagined potential in terms of revenue, margins, and customer loyalty. The entire industry stands to benefit from the full market transparency that MARKT-PILOT provides, and we were particularly impressed by the strong customer feedback and the company’s uncontested position in the market.”
– Jessie Sheff, Vice President at Insight Partners, who will join MARKT-PILOT’s board
