Felux

Felux operates as a B2B marketplace and comprehensive supply chain platform tailored for the steel and metals industry, a sector historically reliant on offline, paper-based transactions. Founded in 2018 by Dallas Hogensen, Chris Day, and Todd Leebow, the Cleveland-based company was established to digitize and streamline the complexities of industrial commerce. The founding team combines deep industry knowledge with technology and sales expertise; Hogensen has a background in scaling tech companies like Lyft, while Day and Leebow bring decades of experience from the steel sector, notably from Majestic Steel USA, where the Felux concept was first incubated.

The company targets a wide array of clients, including steel mills, service centers, manufacturers, and Fortune 500 companies across the United States, Canada, and Mexico. Felux's business model is centered on its digital platform, which provides multiple solutions. It features a marketplace for buying and selling materials, a procurement tool for managing contracts, and a service to help suppliers establish a digital presence. Revenue is likely generated through value-added services such as freight and logistics, financing options, and transaction fees on the platform, which aims to be an all-in-one solution for sourcing, procurement, shipping, and financing.

Felux's platform provides users with real-time visibility into inventory, freight pricing, and the overall supply chain. This enables buyers and sellers to discover new partners, communicate and negotiate in real-time, and utilize data analytics to inform strategic decisions, replacing antiquated processes that often involved emails and spreadsheets. Having facilitated hundreds of millions of dollars in transactions, the company has demonstrated significant traction. Supported by over $24 million in funding from investors like Expa, 8VC, and EquipmentShare, Felux is expanding its services into other commodities, including aluminum, copper, and scrap metal, and is developing an AI-powered operating system, Felux.AI, to further enhance its offerings.

Keywords: steel marketplace, supply chain platform, B2B commerce, metals procurement, industrial logistics, freight services, commodities trading, digital transformation, manufacturing technology, procurement software