# Partpic

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/partpic

- Industry: Internet
- Headquarters: Atlanta, US
- Website: www.staging.partpic.com
- Total disclosed funding: $1.5M
- Latest round: Seed (Jun 17, 2015)
- Investors on record: 4

## About

Partpic Inc. offers advanced image recognition solutions for identifying and procuring replacement parts, streamlining the ordering process through integrated vendor partnerships. Their technology primarily supports industries with complex procurement needs, enhancing efficiency and accuracy.Founded in 2013 and headquartered in Atlanta, US, Partpic Inc. specializes in image recognition technology for replacement parts. The company underwent a significant transition in June 2015 when it raised USD 1.5 mn in Seed funding from investors including ARC Angel Fund, Comcast Ventures, SeedInvest, and The JumpFund. This funding round marked the only deal recorded by the firm, with the total amount raised amounting to USD 1.5 mn. The founder has a history of entrepreneurial ventures, although details on prior companies are not available.Partpic specializes in providing innovative solutions designed for the identification and procurement of replacement parts through advanced image recognition technology. Their core product allows users to upload images of parts, enabling the system to identify the parts and facilitate seamless ordering through integrated vendor partnerships. This technology primarily serves industries such as manufacturing, automotive, and maintenance services, addressing the challenges of part identification and procurement inefficiencies. The launch of their platform marked a significant advancement in simplifying the supply chain processes for businesses seeking quick and reliable access to the components they require. Partpic's customer base includes both B2B clients and end-users across various geographical markets, including North America, Europe, and parts of Asia, where the demand for streamlined inventory management solutions is growing.Partpic's revenue model is structured around direct B2B transactions, leveraging a subscription and partnership approach to facilitate the ordering of parts through their platform. Clients engage with the service through tailored subscription plans that offer varying levels of access to the technology, including features like enhanced search capabilities and priority support. The company’s flagship service, which focuses on image recognition for parts identification, is bundled with specific pricing tiers to accommodate diverse client needs. Revenue is generated as businesses utilize the platform to streamline their procurement processes, with transactions occurring directly between Partpic and their clients. Specific pricing structures for these services are established based on the scale and scope of the client’s operational requirements, fostering an environment for repeat business and long-term partnerships.In June 2015, Partpic raised USD 1.5 mn in Seed financing, which is intended to further develop their image recognition technology and expand their market reach. The company plans to introduce new features aimed at enhancing user experience and accessibility of their platform in the upcoming year. Additionally, there are strategic goals for penetrating new markets in Europe and Asia by the end of 2016, capitalizing on the growing demand for efficient part procurement solutions.

## Funding rounds

- Seed, Jun 17, 2015, $1.5M — Comcast Ventures, ARC Angel Fund, The JumpFund, SeedInvest

## Investors

- Comcast Ventures (https://capitalatlas.ai/funds/comcast-ventures) — Seed
- ARC Angel Fund — Seed
- The JumpFund (https://capitalatlas.ai/funds/the-jumpfund) — Seed
- SeedInvest — Seed