Powerlinx, a NYC-based provider of platform subscription services, completed a $7m Series A funding.
The round was led by its founders and a global group of strategic investors including France-based business information giant Altares D&B.
The company intends to use the funds to further expand its global presence and scale up member acquisition activities.
Founded in 2012 by CEO Doron Cohen and formally come out of beta in March 2016, Powerlinx provides a business growth platform that matches companies to strategic partnership and collaboration opportunities.
The platform is powered by its proprietary recommendation engine, the PowerScoreTM, which predicts the likelihood of each member’s business partnering with a potential target selected from a database of 52 million companies. The engine draws on a deep inventory of quantitative and qualitative internal data that contributes to a successful partnership, including mutual objectives, business characteristics and past performance with partnerships. Recommendations generated from the engine feed into the Partner GraphTM, a graph analysis that maps the compatibility of meaningful partner relationships between companies.
The platform is now approaching 50,000 member companies from more than 165 countries. Each of them is specifically seeking other companies they can partner with to grow their businesses. Opportunities include integrated supply chain agreements, joint venture partnerships to enter new markets, mergers and acquisitions, technology agreements and capital projects. To date, Powerlinx users have listed over $30 billion USD worth of opportunities.