About Converge
Converge is a company based in Peabody (United States) founded in 1980 was acquired by Arrow Electronics in April 2010. It operates as a Reseller / Distribution, and Managed Services. The company has 74 employees as of April 02, 2024. Converge offers products and services including Electronic Component Sourcing, Excess Inventory Management, and Customized Programs. Converge operates in a competitive market with competitors including Supplyframe, Cofactr, Lytica, WCube and HotLink, among others.
- Headquarter Peabody, United States
- Employees 74 as on 02 Apr, 2024
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Sectors
Technology
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Email
***********
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Phone
*********
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Website
*********
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Social
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- Legal Name Arrow Electronics
- Date of Incorporation 23 Mar, 2010
- Jurisdiction Bangalore North, Karnataka, India
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Annual Revenue
$935.09 K (USD)-14.81as on Mar 31, 2020
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Net Profit
$56.39 K (USD)-35.46as on Mar 31, 2020
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EBITDA
$131.6 K (USD)-12.98as on Mar 31, 2020
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Latest Funding Round
- Investors
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Employee Count
74
as on Apr 02, 2024
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Acquired by
Arrow Electronics
(Apr 06, 2010)
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Products & Services of Converge
Converge offers a comprehensive portfolio of products and services, including Electronic Component Sourcing, Excess Inventory Management, and Customized Programs. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Hard-to-find electronic components are sourced for various industries.
Excess materials are matched with buyers for recovery.
Data-driven supply chain solutions are tailored for scalability.
Funding Insights of Converge
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Converge
Converge has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Arrow Electronics. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Electronic components and enterprise computing solutions are resold globally.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Converge
| Company Name | Description | Domain | Location | Founded Year | Amount |
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Converge
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Converge Comparisons
Competitors of Converge
Converge operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Supplyframe, Cofactr, Lytica, WCube and HotLink, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Software for electronics design and manufacturing is provided.
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| domain | founded_year | HQ Location |
Cofactr is recognized as a supply chain execution platform.
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| domain | founded_year | HQ Location |
Provider of electronic component spend analytics and risk intelligence platform
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| domain | founded_year | HQ Location |
B2B procurement marketplace is operated for mid-sized enterprises.
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| domain | founded_year | HQ Location |
Cloud-based B2B trade platform is provided with event management features.
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| domain | founded_year | HQ Location |
AI-enabled B2B marketplace for procurement and trading is provided.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Converge
Frequently Asked Questions about Converge
When was Converge founded?
Converge was founded in 1980.
Where is Converge located?
Converge is headquartered in Peabody, United States. It is registered at Peabody, Massachusetts, United States.
Who is the current CEO of Converge?
David Mandragouras is the current CEO of Converge.
How many employees does Converge have?
As of Apr 02, 2024, the latest employee count at Converge is 74.
What is the annual revenue of Converge?
Annual revenue of Converge is $935.09K as on Mar 31, 2020.
What does Converge do?
Converge is involved in providing electronic supply chain solutions across multiple industries including aerospace, automotive, medical, and energy. Services such as electronic component sourcing, excess inventory management, and customized programs are offered. A global distribution network is maintained to support end-to-end lifecycle management. Market intelligence and data analytics are utilized for real-time visibility. Sectors like artificial intelligence, cloud computing, and EV infrastructure are served with innovative resources and quality testing to prevent counterfeit components.
Who are the top competitors of Converge?
Converge's top competitors include Supplyframe, Cofactr and WCube.
What products or services does Converge offer?
Converge offers Electronic Component Sourcing, Excess Inventory Management, and Customized Programs.
Who are Converge's investors?
Converge has 1 investor. Key investors include Arrow Electronics.