Photo: TAMIR KALIFA, STR / NYT
Houston-based GoExpedi, an e-commerce, supply chain and analytics company that provides procurement services and parts to the industrial and energy sectors, raised $25 million in a Series B fundraising round.
GoExpedi provides more than 200,000 parts and supplies through its e-commerce platform. And the data collected throughout this process is applied to AI and machine learning to provide customers with predictive ordering and automatic subscription features.
“This round of funding allows us to significantly accelerate our geographic expansion across North America as well as globally,” Tim Neal, CEO of GoExpedi, said in a news release, “further build out our technology platform, and expand our reach from the land drilling market to the offshore, midstream and downstream markets.”
The $25 million brings the company’s total funding to $35.25 million.
The Series B investment was led by San Francisco venture capital firm Top Tier Capital Partners, though it also included an investment from CSL Ventures, a division of Houston investment firm CSL Capital Management.