MarkITx, a Chicago, IL-based marketplace for buyers, sellers and wholesalers of secondary IT equipment, has raised more than $1.06m in angel funding.
The round was led by Michael Balkin, Francis Wisnewski, Jack Keenan, John Ward, with participation from other Chicago business veterans.
The company intends to use the capital to scale its team (http://markitx.com/jobs) and further build out its platform.
Founded in 2012 by CEO Frank Muscarello, CTO Ben Blair, and President Marc Brooks, MarkITx has developed a technology platform to manage the exchange of IT hardware via a proprietary algorithm that offer predictive pricing around the exact value of the depreciating IT providing buyers and sellers with a real-time, transparent view of the secondary market.
Launched in April 2012, MarkITx has already approximately $10M in Demand and $900,000 in Supply posted on its platform with a majority coming from Cisco Networking equipment and Apple iPads for the B2B space.