With its worldwide unique SaaS solution for optimized, dynamic pricing, the German-based start-up is driving revenue and margins in the after-sales business of manufacturers.
ESSLINGEN, Germany, April 23, 2024 /PRNewswire/ — Just in time for its fourth anniversary, MARKT-PILOT announces the successful completion of one of Europe’s largest Series A financing rounds, led by global software investor Insight Partners with participation from existing investor Capnamic. The Esslingen-based company will use the capital to further expand its business in Europe and the US, solidifying its position as a global player in the manufacturing market.
Since its founding in 2020, MARKT-PILOT has been revolutionizing the manufacturing industry with PRICERADAR, a unique global SaaS solution for market-based spare parts pricing. PRICERADAR automatically researches prices and delivery times of spare parts and thus shows customers their competitive position and sales potential. After PRICERADAR’s success, the company launched its second product, PRICEGUIDE, in 2023 – a solution that provides optimized and validated price recommendations for customers’ spare parts portfolio.
Jessie Sheff, Vice President at Insight Partners, will join MARKT-PILOT’s board. “With its innovative software solutions, MARKT-PILOT offers manufacturing companies around the world previously unimagined potential in terms of revenue, margins, and customer loyalty. The entire industry stands to benefit from the full market transparency that MARKT-PILOT provides, and we were particularly impressed by the strong customer feedback and the company’s uncontested position in the market,” said Sheff.
Alex Morbe, CEO of MARKT-PILOT, has roots in manufacturing and knows the industry’s needs inside and out. Morbe’s focus for the future is on dynamic pricing and continuing to build close connections with customers.
“More than 100 customers have recorded a more than 20% average increase in sales of their spare parts as a result of using MARKT-PILOT’s software solution. It’s the ultimate vote of confidence in our results and the viability of our business model that one of the world’s most visionary tech investors has placed their trust in us,” said Morbe. “With the support of Insight Partners, we will continue to expand and invest in the further development of our products and AI.”
Dr. Martin Ruth, CFO of MARKT-PILOT, is also delighted with the successful Series A round and calls to (future) employees: “We are very proud of our great, highly motivated team in Esslingen, Chicago, Milan and Stockholm. Now we have the opportunity to further grow and attract more talent to our company.”
About MARKT-PILOT
MARKT-PILOT solves the biggest challenge in the service and after-sales business of machine manufacturers and enables market-oriented spare parts pricing through automated market price research. The globally unique SaaS solution is based on many years of experience in machine manufacturing and after-sales and creates full market transparency for the first time regarding the offer, prices, and delivery times of spare parts. Machine manufacturers benefit from previously untapped potential in the spare parts business, can work on data, and react proactively to market dynamics. The result: more sales and customer satisfaction. MARKT-PILOT was founded in 2020 and currently employs over 130 people. More than 100 customers are already working with the software solutions. The company is headquartered in Esslingen, Germany, and currently has three additional locations in Chicago, Milan and Stockholm. For more information, see markt-pilot.com
About Insight Partners
Insight Partners is a global software investor partnering with high-growth technology, software, and Internet startup and ScaleUp companies that are driving transformative change in their industries. As of December 31, 2023, the firm has over $80B in regulatory assets under management. Insight Partners has invested in more than 800 companies worldwide and has seen over 55 portfolio companies achieve an IPO. Headquartered in New York City, Insight has offices in London, Tel Aviv, and the Bay Area. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with tailored, hands-on software expertise along their growth journey, from their first investment to IPO. For more information on Insight and all its investments, visit insightpartners.com or follow us on X @insightpartners.
About Capnamic
Capnamic is a leading European early-stage Venture Capital firm, with offices in Cologne, Berlin, and Munich. The VC invests in outstanding teams from the German-speaking regions from Pre-Seed up to Series A. Capnamic’s investments include companies such as LeanIX (exit to SAP), Staffbase, Adjust (exit to Applovin) parcelLab or Capmo, amongst others. All portfolio companies can rely on Capnamic’s unique network of global investors and industry partners as well as hands-on support, mentoring and knowledge exchange. The vast expertise of the Capnamic team includes more than 100 investments, a high turnover of successful trade sales and IPOs, as well as a strong entrepreneurial track record within the investment team. The general partners are Christian Siegele, Christian Knott, Jörg Binnenbrücker and Olaf Jacobi. For more information, see Capmanic.com
SOURCE MARKT-PILOT
