About PartsSource
PartsSource is a company based in Cleveland (United States) founded in 2001 was acquired by Bain Capital Private Equity in July 2021. It operates as a Reseller / Distribution, and Managed Services. PartsSource has raised $50 million across 1 funding round from investors including Bain Capital Private Equity, Polaris Partners and Primus Capital. The company has 284 employees as of December 31, 2021. PartsSource offers products and services including Medical Parts, Repair & Service Agreements, and PartsSource PRO. PartsSource operates in a competitive market with competitors including Attainia, System Stone, Adusso, Suwell and SterilWize, among others.
- Headquarter Cleveland, United States
- Employees 284 as on 31 Dec, 2021
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Sectors
Healthcare
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Phone
*********
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Website
*********
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Social
*********
- Legal Name Partssource, Inc.
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Annual Revenue
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Net Profit
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EBITDA
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Total Equity Funding
$50 M (USD)
in 1 rounds
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Latest Funding Round
$50 M (USD), Private Equity Round
Aug 08, 2008
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Investors
Bain Capital Private Equity
& 3 more
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Employee Count
284
as on Dec 31, 2021
- Acquired by
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Products & Services of PartsSource
PartsSource offers a comprehensive portfolio of products and services, including Medical Parts, Repair & Service Agreements, and PartsSource PRO. 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.
Medical parts for various healthcare devices are supplied.
Repair and service agreements for equipment are offered.
Solutions for equipment uptime maximization are provided here.
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Leadership Team
12 people
Product Management Team
5 people
Software Development Team
5 people
Sales and Marketing
4 people
Human Resources and Administration
4 people
Operations Team
3 people
Finance and Accounting
2 people
Data Analysis and Operations Team
1 people
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Funding Insights of PartsSource
PartsSource has successfully raised a total of $50M through 1 strategic funding round. The most recent funding activity was a Private Equity Round round of $50 million completed in August 2008. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding Total Funding
- Total Rounds 1
- Last Round Private Equity Round — $50.0M
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First Round
First Round
(08 Aug 2008)
- Investors Count 2
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Aug, 2008 | Amount | Private Equity Round - PartsSource | Valuation |
investors |
| 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 PartsSource
PartsSource has secured backing from 4 investors, including venture fund investors. Prominent investors backing the company include Bain Capital Private Equity, Polaris Partners and Primus Capital. 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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US focused venture capital firm
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Founded Year | Domain | Location | |
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Private equity investments are directed toward the US and Canada.
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Founded Year | Domain | Location | |
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Private investment firm managing assets and expanding into equity, credit, and real estate services.
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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 PartsSource
| 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 - PartsSource
| 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 |
Partssource Comparisons
Competitors of PartsSource
PartsSource 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 Attainia, System Stone, Adusso, Suwell and SterilWize, 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 |
Cloud-based capital equipment planning solutions are offered for healthcare.
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| domain | founded_year | HQ Location |
Maintenance and quality assurance app for factory and hospital
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| domain | founded_year | HQ Location |
Usability testing solutions for healthcare medical equipment are provided.
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| domain | founded_year | HQ Location |
Fixed asset maintenance for hospital equipment is managed via software.
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| domain | founded_year | HQ Location |
Smart sterilization workflow systems and software for dentists are 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 Partssource
Frequently Asked Questions about PartsSource
When was PartsSource founded?
PartsSource was founded in 2001 and raised its 1st funding round 7 years after it was founded.
Where is PartsSource located?
PartsSource is headquartered in Cleveland, United States. It is registered at Cleveland, Ohio, United States.
Who is the current CEO of PartsSource?
Philip Settimi is the current CEO of PartsSource.
Is PartsSource a funded company?
PartsSource is a funded company, having raised a total of $50M across 1 funding round to date. The company's 1st funding round was a Private Equity Round of $50M, raised on Aug 08, 2008.
How many employees does PartsSource have?
As of Dec 31, 2021, the latest employee count at PartsSource is 284.
What does PartsSource do?
PartsSource is involved in the distribution of medical equipment parts and related services for healthcare providers. Operations are focused on ensuring equipment uptime and reducing operational risks through solutions like PartsSource PRO. A network of over 5,000 pre-qualified service technicians is maintained for quality repairs. Repair and service agreements are offered to unlock financial, clinical, and labor capacity for healthcare organizations. The company serves various sectors within healthcare, including imaging, patient monitoring, and facilities management.
Who are the top competitors of PartsSource?
PartsSource's top competitors include Attainia, System Stone and Adusso.
What products or services does PartsSource offer?
PartsSource offers Medical Parts, Repair & Service Agreements, and PartsSource PRO.
Who are PartsSource's investors?
PartsSource has 4 investors. Key investors include Bain Capital Private Equity, Polaris Partners, Primus Capital, and Great Hill Partners.