With its worldwide unique SaaS solution for optimized,
dynamic pricing, the German-based start-up is driving revenue and
margins in the after-sales business of manufacturers.
ESSLINGEN, Germany, April 23,
2024 /PRNewswire/ -- Just in time for its fourth
anniversary, MARKT-PILOT announces the successful completion of one
of Europe's largest Series A
financing rounds, led by global software investor Insight Partners
with participation from existing investor Capnamic. The
Esslingen-based company will use the capital to further expand its
business in Europe and the US,
solidifying its position as a global player in the manufacturing
market.
Since its founding in 2020, MARKT-PILOT has been revolutionizing
the manufacturing industry with PRICERADAR, a unique global SaaS
solution for market-based spare parts pricing. PRICERADAR
automatically researches prices and delivery times of spare parts
and thus shows customers their competitive position and sales
potential. After PRICERADAR's success, the company launched its
second product, PRICEGUIDE, in 2023 – a solution that provides
optimized and validated price recommendations for customers' spare
parts portfolio.
Jessie Sheff, Vice President at
Insight Partners, will join MARKT-PILOT's board. "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," said Sheff.
Alex Morbe, CEO of MARKT-PILOT,
has roots in manufacturing and knows the industry's needs inside
and out. Morbe's focus for the future is on dynamic pricing and
continuing to build close connections with customers.
"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," said Morbe. "With the support of Insight
Partners, we will continue to expand and invest in the further
development of our products and AI."
Dr. Martin Ruth, CFO of
MARKT-PILOT, is also delighted with the successful Series A round
and calls to (future) employees: "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."
About MARKT-PILOT
MARKT-PILOT solves the biggest
challenge in the service and after-sales business of machine
manufacturers and enables market-oriented spare parts pricing
through automated market price research. The globally unique SaaS
solution is based on many years of experience in machine
manufacturing and after-sales and creates full market transparency
for the first time regarding the offer, prices, and delivery times
of spare parts. Machine manufacturers benefit from previously
untapped potential in the spare parts business, can work on data,
and react proactively to market dynamics. The result: more sales
and customer satisfaction. MARKT-PILOT was founded in 2020 and
currently employs over 130 people. More than 100 customers are
already working with the software solutions. The company is
headquartered in Esslingen, Germany, and currently has three additional
locations in Chicago, Milan and Stockholm. For more information, see
markt-pilot.com
About Insight Partners
Insight Partners is a global
software investor partnering with high-growth technology, software,
and Internet startup and ScaleUp companies that are driving
transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management.
Insight Partners has invested in more than 800 companies worldwide
and has seen over 55 portfolio companies achieve an IPO.
Headquartered in New York City,
Insight has offices in London,
Tel Aviv, and the Bay Area.
Insight's mission is to find, fund, and work successfully with
visionary executives, providing them with tailored, hands-on
software expertise along their growth journey, from their first
investment to IPO. For more information on Insight and all its
investments, visit insightpartners.com or follow us on X
@insightpartners.
About Capnamic
Capnamic is a leading European
early-stage Venture Capital firm, with offices in Cologne, Berlin, and Munich. The VC invests in outstanding teams
from the German-speaking regions from Pre-Seed up to Series A.
Capnamic's investments include companies such as LeanIX (exit to
SAP), Staffbase, Adjust (exit to Applovin) parcelLab or Capmo,
amongst others. All portfolio companies can rely on Capnamic's
unique network of global investors and industry partners as well as
hands-on support, mentoring and knowledge exchange. The vast
expertise of the Capnamic team includes more than 100 investments,
a high turnover of successful trade sales and IPOs, as well as a
strong entrepreneurial track record within the investment team. The
general partners are Christian
Siegele, Christian Knott,
Jörg Binnenbrücker and Olaf Jacobi.
For more information, see Capmanic.com
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SOURCE MARKT-PILOT