A startup company that offers software to connect parts suppliers with customers, has raised £18 million GBP in funding from VC funds across Australasia and Europe.
Named ‘Partly’, the newco opened a London office in November and made its first UK hire of sales support. The funding round was led by Octopus Ventures, one Europe’s largest and most active VC investors , with participation from Square Peg, Blackbird, Shasta Ventures, Ten13, Square Co-Founder Randy Redigg, Hillfarrance, Icehouse, and I2BF.
The firm will use the investment to continue growth in locations around the world by doubling its headcount over the next 12 months and hiring roles within the UK and Europe which include building a sales and marketing team.
A number of different software platforms are being developed, but the main product uses VRM lookup to aggregate parts from all over the world.
CEO Levi Fawcett said: “This is an incredibly difficult technical problem that nobody has cracked. The early founding team we have built is key to our success so far, and we use some bleeding-edge technology like Rust, Kafka, and ScyllaDB to manage millions of changes per minute from thousands of data sources. We have a large customer backlog and are prioritising key customers mostly in Europe.”
“We’re looking for the most outstanding software engineers in the world who are excited about solving hard problems. We have a genuinely exceptional team across Australasia and Europe, and currently, we only hire around one percent of applicants that apply, so the bar is incredibly high.”