Xometry, which bills itself as “the largest on-demand manufacturing platform”, has just gotten bigger upon acquiring on-demand manufacturer MakeTime. The purchase will grow Xometry’s manufacturing network from 1,100 to 2,300, while also adding MakeTime’s enterprise product features, such as an Autodesk Fusion 360 add-in and its Shop Advantage program. MakeTime Founder and CEO Drura Parrish will become executive vice president of Platform at Xometry.
In addition to the acquisition, one of MakeTime’s investors, Foundry Group, will initiate a funding round to the tune of $25 million, which will see participation from Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund. This brings Xometry’s total funding raised to $63 million. Seth Levine, of Foundry Group, will join Xometry's board of directors.
Xometry features a range of manufacturing options through its network, including additive manufacturing, injection molding, CNC machining, sheet metal fabrication and urethane casting. This broad portfolio of technologies, in addition to the large network of service providers, gives the company a unique advantage when compared to a manufacturing operation like Stratasys Direct Manufacturing or 3D Systems’ Quickparts.
Rather than rely on in-house machines, Xometry connects customers to this network, making it possible for them to get a competitive price for the proper service. Acting as a sort of Amazon of manufacturing, the company is able to collate a fragmented manufacturing supply chain.
"We're excited at the prospect of joining forces with Xometry," said Drura Parrish, CEO and Founder of MakeTime. "We've both been building the future of manufacturing, and now we will be able to offer small- and medium-sized manufacturers access to more jobs, more opportunities for growth and advanced products to power their businesses."
From January to May of 2018, Xometry has been able to double its revenues and bookings compared to 2017. Since its launch, has taken on over 10,000 customers—including NASA, BMW and GE—from a variety of industries. It also launched the Xometry Instant Quoting Engine, allowing users to get an instant quote upon uploading a CAD file.
You can learn more about the company by watching our interview with Greg Paulsen, director of applications engineering at Xometry, below or by visiting the Xometry website.