PartsTech, a Boston-based business-to-business parts marketplace serving the auto repair industry, has garnered $35 million in a Series C financing round.
OpenView spearheaded the funding round, which also saw contributions from existing investors such as Insight Partners and BP Ventures.
The financing is earmarked for the expansion of PartsTech’s platform, with the objective of empowering repair facilities to source the entirety of their needs – aftermarket parts, tires, and original equipment (OE) parts – through a comprehensive procurement solution.
PartsTech, under the leadership of CEO Greg Kirber, has emerged as a parts procurement platform that simplifies and streamlines the process of finding the right parts in a timely manner for auto repair facilities. With more than 15,000 repair shops connected to 30,000 supplier locations, the platform significantly expedites the parts sourcing process, leading to quicker vehicle repairs.
The company operates with a remote workforce spread across the U.S. and Europe.