Xometry

Last updated
Xometry, Inc.
Xometry
Company type Public
Nasdaq:  XMTR
Industry Marketplace
Founded2013;11 years ago (2013)
Founders
Headquarters,
U.S. [1]
Key people
George Horning (Chairman)
Number of employees
512 (2021)
Website xometry.com

Xometry is an on-demand industrial parts marketplace based in North Bethesda, Maryland. [1] [2]

Its CEO and co-founder is Randy Altschuler. [2] [3] [4] Its customers include BMW, NASA, Bosch, Dell, and General Electric. [5] [6] [7]

History

Xometry was founded in 2013 by Altschuler and Laurence Zuriff. [2] [5]

In July 2018, Xometry acquired MakeTime, a manufacturing platform based in Lexington, Kentucky. [8]

In January 2019, Xometry acquired Machine Tool & Supply of Jackson, Tennessee and began to offer cutting tools, metal, and other supplies for manufacturers via Xometry Supplies. [9]

In December 2019, Xometry acquired Shift, a Munich based on-demand manufacturing marketplace, which will now be known as Xometry Europe. [10]

Xometry has raised about $150 million in venture capital funding. Investors include Highland Capital Partners, T. Rowe Price Funds, and Dell Technologies Capital. Anticipating an initial public offering in 2021, the company appointed a CFO and added Katharine Weymouth to its board of directors. [5]

On June 30, 2021, Xometry shares began trading on the Nasdaq Global Select Market under the symbol XMTR. [11]

In December 2021, Xometry acquired Thomas. [12]

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References

  1. 1 2 "Xometry moves into new headquarters in North Bethesda". The Business Journals. Retrieved 21 December 2022.
  2. 1 2 3 "Xometry Raises $50 Million for on Demand Parts Marketplace". The Wall Street Journal. Retrieved 24 June 2019.
  3. "What Donald Trump Can Learn About Reviving Manufacturing From A Startup". Forbes. Retrieved 25 June 2019.
  4. "BMW, GE Commit Millions to Digital Manufacturing Marketplace". U.S. News & World Report. Retrieved 25 June 2019.
  5. 1 2 3 "Xometry uses AI and algorithms to match manufacturers with hard-to-find parts". Washington Post. Retrieved 2021-01-21.
  6. "Manufacturing as a Service Platforms: The New Efficiency Revolution". Forbes. Retrieved 25 June 2019.
  7. "Xometry Raises $15 Million in Funding". Fox Business. Retrieved 25 June 2019.
  8. Tia Vialva (2018-07-10). "Xometry acquires MakeTime, Raises $25 Million in Funding Round". 3D Printing Industry. Retrieved 2021-01-21.
  9. "Xometry Acquires Machine Tool & Supply, Launches Xometry Supplies". Industrial Distribution. 2020-01-15. Retrieved 2021-01-21.
  10. Steve O'Hear. "Xometry acquires European on-demand marketplace Shift". TechCrunch. Retrieved 7 December 2019.
  11. Ciara Linnane (2021-06-30). "Xometry shares soar 57% in trading debut". MarketWatch. Retrieved 2021-08-20.
  12. "Xometry Acquires Thomas for $300M in Cash and Stock". www.industryweek.com. 2021-12-08. Retrieved 2021-12-09.