Partful, a manufacturing aftersales tech company, lands £5m to enhance automation in its platform.
- Funding led by Northern Gritstone with Par Equity and Blumberg Capital’s support.
- The investment reinforces Partful’s growth within the massive $640bn aftermarket sector.
- Automation will enable OEMs to easily create and manage parts catalogs swiftly.
- Partful’s advanced platform already aids major OEMs, promising further job creation.
Partful, a leader in manufacturing aftersales tech, has successfully secured £5m in a significant funding round. The capital was garnered with the leadership of Northern Gritstone and participation from both Par Equity and US-based Blumberg Capital. This substantial investment will be directed towards advancing the automation features of Partful’s 3D aftersales SaaS platform, propelling the company further in the expansive $640 billion aftermarket industry.
With enhanced automation capabilities, Partful’s platform empowers original equipment manufacturers (OEMs) by allowing them to have complete control over their parts catalog generation. Users can upload essential data like CAD files, Bill of Materials, and inherent tribal knowledge to create robust parts catalogs suitable for aftersales purposes. This self-service capability significantly reduces the time required to produce a 3D parts catalog from weeks to mere hours, optimizing efficiency for users.
The interactive 3D models available on the Partful platform provide a distinct advantage, enabling customers and dealers of OEMs to discern and order necessary components with ease. Moreover, the platform supports users with the necessary work instructions to fit these parts accurately. The introduction of automation not only streamlines this process but also eliminates costly order errors and maximizes revenue potential for OEMs.
CEO and co-founder Sam Burgess emphasized the platform’s evolution, stating, “Developing the next iteration of our platform is an important step in helping OEMs to overcome these challenges. Having the backing of Northern Gritstone, Par Equity, and Blumberg Capital is vital and we are thrilled to have their backing as we help OEMs support customers, eradicate costly order errors, and maximize revenues.”
Duncan Johnson, CEO of Northern Gritstone, expressed his support, “Northern Gritstone is delighted to support Partful. This growing Manchester-based tech company has already won large OEM customers thanks to its technology and is set to create more jobs in its North of England team.” Partful’s influence is growing, with clients like Maeving, Lear, Kolpak, Triangle Tube, Ideal Heating, and Allett Mowers relying on its innovative platform. Jay Maiden, director of service at Kolpak, noted the platform’s utility beyond external clients, highlighting its internal benefits: “It’s made not only our customers’ jobs easier but it’s also helped my internal team and the Part CSRs. I had no idea how useful it would be internally. It’s not just in the parts, we’ve got engineers that are logged in and they look at it to see the model. I know we’ve only just started touching the surface of what it can do for us.”
With this funding, Partful is well-positioned to innovate further and support OEMs globally in optimizing their aftersales processes.
