Partsearch Technologies
Online platform for consumer electronics and appliance parts.
| Date | Investors | Amount | Round |
|---|---|---|---|
| N/A | €0.0 | round | |
| investor | €0.0 | round | |
| investor | €0.0 | round | |
$7.8m | Series E | ||
| Total Funding | 000k | ||
Partsearch Technologies, Inc. operates as a comprehensive online platform for replacement parts in the consumer electronics and home appliance sectors. Founded in 2001 by Dean Summers and Glenn C. Laumeister, the company was established to centralize the fragmented parts market. Initially started as Ineedapart.com in 1998, it was rebranded as Partsearch Technologies after securing initial funding. In 2001, Idealab provided $500,000 in a Series A round, a crucial step that facilitated the company's early infrastructure development. The company later secured a total of $8.2M over two funding rounds.
The company's business model is centered on a vast online catalog, which at one point contained over eight million spare parts for electronics and appliances. Partsearch does not physically warehouse the parts; instead, it provides real-time inventory information from a network of suppliers and manufacturers, with products being drop-shipped directly to the customer. This model allows them to serve a wide range of clients, including individual consumers, repair technicians, major retailers, service companies, and third-party warranty administrators. They generate revenue through the sale of these parts and by providing procurement services to their retail and enterprise partners.
Over the years, Partsearch formed significant alliances with major retailers like Best Buy, Radio Shack, and Circuit City, integrating its parts catalog and procurement solutions into their operations. The company offers several tailored services, including PartStore.com for individual consumers, PartStorePRO for small businesses and technicians, and Partsearch Enterprise for large service providers. Ultimately, Partsearch Technologies began operating as a subsidiary of Best Buy Enterprise Services, Inc.
Keywords: parts management, replacement parts, consumer electronics parts, appliance parts, e-commerce platform, parts procurement, online catalog, service parts information, parts distribution, inventory information, drop shipping, retail partnerships, PartStore, PartStorePRO