Paperless Parts Raises $30 Million for Its Estimating and Price Quoting Software

The company has designed a fully integratable software package built with artificial intelligence (AI) that algorithmically produces the most accurate pricing for all manufacturing materials needed for a job. The company leverages its AI to point out potential manufacturing issues that could arise by analyzing the files and 3D rendered models of a project before moving into the next stage. The success seen in 2020 opened the door to new ventures, allowing the tech startup to enter a business partnership with Penn Engineering this past July. The rapid growth and new business partnerships for Paperless Parts have generated interest from several investors who see significant value in the company moving forward. Money will also be invested in the development of new features, including fully automated pricing using model-based definition files, a natural language processing engine, and new functionalities to create a more efficient supply chain.