Overview

Paperless Parts provides quoting software designed specifically for manufacturers, catering to a wide range of clients from small job shops to large production facilities. Their main product is a cloud-based platform that simplifies and speeds up the quoting process, ensuring greater accuracy. This platform features advanced analytics, collaboration tools, and a part viewer, which assist manufacturers in optimizing their operations and increasing their success rates in winning quotes. Unlike many competitors, Paperless Parts operates on a subscription-based model, allowing clients to access the software for a recurring fee. The company's goal is to enhance the efficiency and accessibility of manufacturing processes, ultimately aiming to transform the industry.

Simplify's Take

What believers are saying

• Increased adoption of cloud solutions boosts demand for Paperless Parts' platform.
• Digital transformation in SMEs expands Paperless Parts' potential customer base.
• AI-driven automation enhances the value of Paperless Parts' tools, reducing errors.

What critics are saying

• Competition from AI-driven platforms like Xometry and Fictiv is intensifying.
• Data privacy concerns may lead to regulatory challenges for cloud-based solutions.
• Economic downturns could reduce spending on new software, affecting subscriptions.

What makes Paperless Parts unique

• Paperless Parts offers a cloud-based platform tailored for custom part manufacturing.
• The platform integrates with existing ERP and accounting software for seamless operations.
• AI-powered tools like BOM Builder and Wingman enhance quoting accuracy and efficiency.

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Funding

Total Funding

$37.1M

Meets

Industry Average

Funded Over

2 Rounds

$30,000,000

Series B

Sep 2021

Series B funding is typically for startups that have proven their business model and need more funding to expand rapidly—often by entering new markets or adding more products. Investors are usually venture capital firms that specialize in later-stage investments.

Series B Funding Comparison

Below Average

Industry standards

Ind Avg. $35M

$4M

$30M

$30M

$45M

$65M

$100M

View all funding stages