14 min
Jithendra Palasagaram, CEO and Founder of Part Analytics: $4 Million Raised to Simplify Direct Material Sourcing Category Visionaries
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- Entrepreneurship
Welcome to another episode of Category Visionaries — the show that explores GTM stories from the tech's most innovative B2B founders. In today's episode, we're speaking with Jithendra Palasagaram, CEO and Founder of Part Analytics, a sourcing platform for direct materials that's raised $4 Million in funding.
Here are the most interesting points from our conversation:
Part Analytics' Unique Offering: A B2B SaaS platform that empowers sourcing and procurement leaders in manufacturing companies with significant electronic spends to make quicker, smarter decisions throughout the product lifecycle.
Inspiration Behind Part Analytics: Jithendra's firsthand experience with the challenges in sourcing and procurement roles at a large multinational corporation, combined with his academic tenure at the University of Chicago, motivated him to tackle these issues through technology.
Fundraising in the Midwest: Jithendra's journey underscores the importance of networking and finding the right investors who share the vision for the company and contribute beyond just financial support.
Platform Impact through Case Studies: A case study with ITW, a Fortune 500 company, showcased Part Analytics' ability to deliver 5% cost reduction on electronic components spend, reduce shortages by over 70%, and consolidate spend data for better negotiation leverage.
Market Position and Vision: Distancing itself from traditional procurement solutions, Part Analytics champions a 'design to procure' philosophy, aiming to bridge the gap between engineering and sourcing from the onset of the design phase.
Advice for Aspiring Founders: Reflecting on his entrepreneurial journey, Jithendra advises acting sooner and with conviction. He emphasizes the importance of fully committing to your venture from the start to accelerate progress and success.
Welcome to another episode of Category Visionaries — the show that explores GTM stories from the tech's most innovative B2B founders. In today's episode, we're speaking with Jithendra Palasagaram, CEO and Founder of Part Analytics, a sourcing platform for direct materials that's raised $4 Million in funding.
Here are the most interesting points from our conversation:
Part Analytics' Unique Offering: A B2B SaaS platform that empowers sourcing and procurement leaders in manufacturing companies with significant electronic spends to make quicker, smarter decisions throughout the product lifecycle.
Inspiration Behind Part Analytics: Jithendra's firsthand experience with the challenges in sourcing and procurement roles at a large multinational corporation, combined with his academic tenure at the University of Chicago, motivated him to tackle these issues through technology.
Fundraising in the Midwest: Jithendra's journey underscores the importance of networking and finding the right investors who share the vision for the company and contribute beyond just financial support.
Platform Impact through Case Studies: A case study with ITW, a Fortune 500 company, showcased Part Analytics' ability to deliver 5% cost reduction on electronic components spend, reduce shortages by over 70%, and consolidate spend data for better negotiation leverage.
Market Position and Vision: Distancing itself from traditional procurement solutions, Part Analytics champions a 'design to procure' philosophy, aiming to bridge the gap between engineering and sourcing from the onset of the design phase.
Advice for Aspiring Founders: Reflecting on his entrepreneurial journey, Jithendra advises acting sooner and with conviction. He emphasizes the importance of fully committing to your venture from the start to accelerate progress and success.
14 min