Xometry Continues Rapid Expansion of Global Supplier Base, With More Than 4,200 Active Suppliers On Its AI-Driven Marketplace
Rhea-AI Summary
Xometry announced significant growth in its global custom-manufacturing marketplace, now hosting over 4,200 active suppliers. The platform added more than 780 new suppliers in the first three quarters of 2024, marking a 34% increase and nearly triple the number since 2021. The company's Instant Quoting Engine now operates in 16 languages, facilitating global business transactions. The supplier network spans all 50 US states and three continents, offering various manufacturing processes including CNC machining, injection molding, and laser cutting. Through its Donor Advised Fund, Xometry provides scholarships to over 250 students across multiple states to support future manufacturing talent.
Positive
- Supplier base grew 34% in first three quarters of 2024, adding 780 new suppliers
- Global expansion with presence in all 50 US states and three continents
- Platform now available in 16 languages, enhancing international accessibility
- Diversified manufacturing capabilities across multiple processes and materials
Negative
- None.
News Market Reaction
On the day this news was published, XMTR declined 0.50%, reflecting a mild negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
- More Than 780 New Suppliers Have Joined Xometry In the First Three Quarters Of 2024, A Nearly Three-Fold Increase Since 2021
- Growth In Suppliers Reflects Strength Of Xometry’s AI-driven Algorithms, Methods And Models To Generate Accurate Pricing And Lead Times For Buyers, Suppliers
- The Xometry Instant Quoting Engine Is Now Available In 16 Languages Worldwide; Xometry’s Workcenter Cloud-Based Manufacturing Execution System Serves As The Digital On-Ramp For Suppliers To Conduct Business Worldwide
NORTH BETHESDA, Md., Nov. 20, 2024 (GLOBE NEWSWIRE) -- Xometry today announced that its global custom-manufacturing marketplace has more than 4,200 active suppliers, an increase of more than 780, or
“Manufacturers around the world recognize the benefits of joining the Xometry marketplace,” said Xometry Chief Operating Officer Peter Goguen. “Through our marketplace, our rapidly growing base of suppliers can instantly expand their reach to enterprise customers regardless of geography. Our buyers also get immediate access to the growing number of manufacturers throughout North America, Europe and Asia.”
Xometry’s supplier network spans all 50 states and three continents and provides access to a massive menu of manufacturing processes, materials and finishes, including: CNC machining; injection molding; laser cutting; sheet metal; die casting; additive manufacturing; waterjet cutting; tube bending and tube cutting, and more.
As Xometry works with suppliers worldwide, it is also committed to championing America’s 500,000 small- and medium manufacturers who are the bedrock of their local communities and the backbone of our domestic and global economies. Through its Donor Advised Fund, Xometry provides scholarships to more than 250 students in Maryland, Kentucky, Wisconsin, South Carolina, Connecticut, New York and the District of Columbia to help train the next-generation of mechanical engineers, technicians and machinists.
Xometry makes it easy for suppliers to join its Marketplace. The company’s all-in-one Workcenter cloud-based manufacturing execution system serves as the “digital on-ramp” for suppliers to Xometry’s global digital ecosystem.
With its large and growing supplier base, Xometry serves large customers in diverse industries, including aerospace and defense, automotive, electronics and semiconductors, energy, medical devices and more. The company has amassed a number of certificates and registrations, and backs every part it ships.
“Our growing supplier base enables us to deliver more complex services for our enterprise customers, including multi-year production orders and post-manufacturing assembly,” Goguen continued. “Xometry is quickly becoming the ‘trusted everything' of on-demand manufacturing.”
Xometry’s two-sided AI-powered marketplace plays a vital role in the rapid digital transformation of the manufacturing industry. Xometry’s proprietary technology shortens development cycles, drives efficiencies within corporate environments and helps companies create resilient supply chains. Xometry’s product portfolio includes its industry leading digital marketplace; popular Thomasnet® industrial sourcing platform, and cloud-based tools and centralized project management software for large, mission-critical projects.
About Xometry
Xometry’s (NASDAQ:XMTR) AI-powered marketplace, popular Thomasnet® industrial sourcing platform and suite of cloud-based services are rapidly digitizing the manufacturing industry. Xometry provides manufacturers the critical resources they need to grow their business and makes it easy for buyers to create locally resilient supply chains. The Xometry Instant Quoting Engine® leverages millions of pieces of data to analyze complex parts in real-time, matches buyers with the right suppliers globally, and provides accurate pricing and lead times. Learn more at www.xometry.com or follow @xometry.
Media Contact:
Matthew Hutchison
Matthew.Hutchison@xometry.com
Investor Contact:
Shawn Milne
Shawn.Milne@xometry.com
FAQ
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