Ply Raises $8.5M in Strategic Funding Led by Ferguson to Advance Automated Inventory Replenishment
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Corporate Venture Capital (CVC)financial
Corporate venture capital (CVC) is when large companies invest money into smaller, innovative startups to gain access to new technologies, products, or markets. It allows these companies to stay ahead of industry trends and explore growth opportunities, while providing startups with funding and strategic support. For investors, CVC can offer early exposure to innovative ideas and potential partnerships that may benefit their overall business strategy.
dead stocktechnical
Dead stock refers to inventory that remains unsold for a long period and is unlikely to be sold in the future. For investors, it signals that a company may be holding assets that are no longer valuable, which can impact its overall financial health and profitability. Like unused goods gathering dust, dead stock represents funds tied up in products that no longer generate profit.
field servicetechnical
Field service involves the work performed by technicians or specialists who travel to a customer's location to install, maintain, or repair equipment or systems. It matters to investors because efficient and reliable field service can enhance customer satisfaction, reduce costs, and support long-term business growth. Strong field service operations often indicate a company's ability to deliver consistent service and adapt to customer needs in real time.
materials managementtechnical
Materials management involves overseeing the planning, purchasing, and handling of physical goods and supplies needed for a business to operate smoothly. It ensures that the right materials are available in the right quantities, at the right time, and at the right cost, much like managing supplies in a busy kitchen to keep everything running efficiently. For investors, effective materials management can signal how well a company controls costs and maintains efficient operations, impacting profitability and competitiveness.
The collaboration aims to transform how contractors and suppliers manage and restock materials by enabling real-time visibility and automation.
NEW YORK--(BUSINESS WIRE)--
Ply, a leading inventory and purchasing platform built for the trades, has raised $8.5 million in a strategic round led by Ferguson Ventures, the Corporate Venture Capital (CVC) arm of Ferguson, a leading North American value-added distributor serving the specialized professional. Existing investors Primary and SignalFire also participated in the round. Ferguson Ventures’ participation marks its 20th investment, underscoring its ongoing commitment to technologies that advance productivity in the trades. This investment establishes acollaboration to accelerateautomatedinventory replenishment and enhance transparency across the supply chain for contractors and suppliers.
Contractors and suppliers are ready for smarter, streamlined ways to digitize inventory tracking and reordering processes. With 20–35% of contractor revenue tied to materials, even small inefficiencies in manual tracking or reordering can erode margins making technology-driven systems increasingly essential. Through this investment, Ply and Ferguson will help provide industry-leading tools offering real-time insight into inventory levels and demand. The result is faster, more precise replenishment that saves time, reduces errors and increases profitability across the industry.
“Ferguson Ventures invests in technologies that help the specialized trade professional run more efficient, profitable businesses. Together we’re driving innovation for our industry so pros have what they need on the jobsite to successfully deliver projects and keep their customers happy,” said Blake Luse, Managing Director of Ferguson Ventures.
“Contractors deserve systems that work as hard as they do, and that’s why this collaboration with Ferguson is so exciting. Their decades of industry experience paired with Ply’s platform gives contractors something rare: tools built with a true understanding of how the trades operate. This is a big step forward for the industry, and we’re just getting started,” said Dave Wigder, CEO, Ply.
Founded in 2022, Ply has quickly proven its impact in the field. Hundreds of teams now rely on the platform to tighten materials operations and improve performance, reporting a 20% increase in billable work, dead stock reduced to below 15% and 10–15 hours saved each week for each operations team member. Designed for trade professionals, suppliers and service businesses, Ply helps teams eliminate friction in purchasing and operate with far greater efficiency.
Ply’s founding team brings deep experience across product design, engineering and operations. Co-founders Dave WigderandDarion Miller combine decades of expertise leading product and design teams at companies such as Amazon, Stash, Vendr and PathAI. With complementary backgrounds in technology, logistics and user experience, they share a mission to simplify materials management through intuitive, technology-driven solutions.
With this new investment, Ply will expand its advanced capabilities, deepen integrations with key field service and accounting platforms, accelerate product development and strengthen supplier partnerships. The company remains focused on becoming the go-to platform for materials management and replenishment in the trades.
About Ply
Ply is an inventory and purchasing platform built for the trades, helping contractors and service businesses manage materials with greater clarity, control and efficiency. Founded in 2022, Ply streamlines workflows from inventory tracking to purchase orders and automated replenishment, giving teams real-time visibility and reducing friction across materials management. Trusted by trade businesses nationwide, Ply is designed to be intuitive in the field and powerful in the back office, enabling teams to save time, reduce waste and unlock new levels of productivity.
About Ferguson
Ferguson (NYSE: FERG; LSE: FERG) is the largest value-added distributor serving the water and air specialized professional in our $340B residential and non-residential North American construction market. We help make our customers’ complex projects simple, successful and sustainable by providing expertise and a wide range of products and services from plumbing, HVAC, appliances and lighting to PVF, water and wastewater solutions and more. Headquartered in Newport News, Va., Ferguson has sales of $30.8 billion (FY25) and approximately 35,000 associates in over 1,700 locations. For more information, please visit corporate.ferguson.com.
