Purchasing Platform, a Chicago, IL-based spend management, analytics, and B2B online marketplace for procurement in the manufactured housing industry, raised $3.5m in Series A funding.
The round was led by Method Capital with participation from Participate Capital, Old Town Capital, and other strategic investors.
The company intends to use the funds to:
– grow the reach of its solution across the manufactured housing sector,
– broaden its footprint in tangential industries such as multifamily, student housing, single family, senior living, self-storage, and other commercial real estate sectors,
– expand its investment in technology development to deliver customer-driven functionality within its proprietary platform,
continue to add professionals to a number of integrated teams that support client activity such as customer success, order success, merchandising, account management, marketing, and tactical buying.
Led by Dave Bowen, CEO, Purchasing Platform provides millions of industry-relevant products and supplies from more than 50 vendors at negotiated prices reflecting an aggregate demand from more than 2,000 manufactured housing communities across the U.S.
In addition to cost savings, clients benefit from product standardization across a portfolio, a customizable spend-approval process, productivity improvements from reduced travel to stores, and detailed spend analytics.