Partful raises £2.4m led by Par Equity to scale its 3D parts platform
The investment was led by Par Equity with backing from Blumberg Capital to fund international expansion and product development.
Partful provides a 3D SaaS platform that transforms aftersales processes for original equipment manufacturers by automating the creation of interactive parts catalogues and work instructions.
Partful has secured £2.4m in a funding round led by Par Equity, with participation from Blumberg Capital. The fresh capital will be directed towards expanding the engineering team and accelerating growth in European and US markets. This investment brings the total backing from these two firms to £6.2m over the past 18 months, as the company scales its interactive 3D parts platform.
From the founder
"This funding is great news as it will help propel the development of our ‘exploding’ 3D parts platform and help us scale our growth by catering to a larger audience. We’re incredibly excited about unleashing the potential of this technology on a global scale. We are also expanding our commercial force to take our product to more U.S. and European clients. I’m thrilled to have partners on board who share that vision and want to make this a reality as soon as possible."
Sam Burgess
CEO and co-founder at Partful
Investor perspective
"We see the $400bn aftermarket as a realm full of untapped opportunities. The success of Partful’s platform, characterised by its impressive customer acquisition and revenue growth, serves to validate our conviction in the game changing potential of its innovative 3D parts platform. We are excited to support Partful’s journey, not just as investors but as staunch believers in their vision to revolutionise the industry and fuel a global shift in the aftermarket."
Tom Croy
Investment Director, Par Equity
Use of funds
- 01Continue product development
- 02Expand into international markets
