BluePallet Closes $5M Funding Round

BluePallet, an Austin, Texas-based digital marketplace connecting manufacturers with the chemical industry, raised $5m in funding.

The round, which brought total raise to $10m, was led by Vinmar Ventures, a subsidiary of Vinmar International, with participation from chemical industry veterans including Terry Hill, Barentz CEO of North America; Matthew Brainerd, CEO of Brainerd Chemical Co.; and Bruce Schechinger, former chairman of the National Association of Chemical Distributors.

Founded in 2020 through the merger of EchoSystem, the chemical marketplace and fintech player Velloci, and led by CEO Scott Barrows, BluePallet is an end to end industrial commerce platform, providing solutions for search, logistics, transactions, and everything in-between. Its platform combines three integral products:

  • TradeHub – a permission-based marketplace where users can find and list products with networking tools that allow for safe and secure transactions
  • TradePass – a proprietary business verification technology that ensures network integrity by reviewing thousands of operational, commercial, and financial risk data points on a continual basis, and
  • TradeCart – a proprietary checkout system that integrates payment processing, authentication, and logistics.