Kinnek, a New York City-based marketplace for small businesses to find suppliers and manage purchasing, received $10m in Series A funding.
The round was led by Matrix Partners with participation from existing backers Sierra Ventures, Version One Ventures, Naval Ravikant, CrunchFund and TriplePoint Ventures.
The company intends to use the funds to grow its marketing and engineering capabilities and expand into new industries.
Founded in 2012 by CEO Karthik Sridharan and COO Rui Ma, Kinnek targets the 4.7 million small and medium businesses in the U.S. that represent $2.2 trillion in annual aggregate spending on supplies and equipment. It enables small companies, from restaurants and hotels to beverage producers and bakeries, to find the right suppliers, compare customized quotes, and manage their purchasing.