Xometry

Last updated
Xometry, Inc.
FormerlyNextLine Manufacturing Corp.
Company type Public
Industry Marketplace
Founded2013;12 years ago (2013)
Founders
Headquarters
North Bethesda, Maryland
,
U.S. [1]
Key people
Fabio Rosati (Chairman)
Number of employees
992 (December 2023)
Website xometry.com

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

Contents

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]

Competition

Xometry's primary competitors are other on-demand manufacturing platforms. They can be grouped into a few key categories:

1. Direct Global Competitors (Marketplace Model):

Hubs (A Protolabs Company): A major direct competitor with a large global network of manufacturing partners for CNC machining, 3D printing, and injection molding.

Fictiv: A significant US-based competitor with a strong focus on quality control and supply chain management through its distributed manufacturing network.

2. Key European / DACH Competitors:

Facturee: A leading online manufacturing platform in the German-speaking market (DACH), operating a large partner network very similar to Xometry.

Laserhub: A German-based competitor specializing in sheet metal processing and laser cutting.

3. Hybrid & In-House Competitors:

Protolabs: A pioneer in digital manufacturing that primarily uses its own highly automated factories for rapid prototyping and low-volume production. They now also own Hubs, giving them a hybrid model.

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.


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