PDM Automotive Secures $4 Million Investment
Paramount Data Management (PDM), the auto parts data management and electronic product data catalog solutions provider, has secured a $4 million investment to accelerate its growth, the company announced. The investment was led by FUSE, a venture capital firm based in Bellevue, Washington, and also included prior investors, the company said.
“In 2021, table stakes for automotive parts manufacturers to sell their products begins with the ability to accurately and completely describe their products digitally. PDM empowers automotive parts manufacturers to seamlessly sell their products via more physical and digital channels, eCommerce platforms,and marketplaces,” said Johannes Crepon, co-founder and CEO at PDM Automotive. “PDM has modernized the electronic product data catalog and improved the way the entire automotive aftermarket parts supply chain exchanges information. The result is a process that is significantly more accurate and efficient than legacy solutions, allowing manufacturers, distributors and retailers to focus on their core business.”
“We are excited to partner with Johannes and the PDM team,” said Kellan Carter, general partner at FUSE. “PDM has created a unique and authoritative data platform purpose-built for the automotive parts industry. They’ve assembled a world-class team that is reshaping an industry that trades hundreds of billions of parts per year. We couldn’t be more thrilled to be part of the PDM journey.”
PDM has seen steadily growing demand for aftermarket automotive parts for maintenance and repairs, restoration and upgrades, the company said.
PDM customers already have access to automotive aftermarket parts data from more than 900 brands, the company said. After doubling its revenue during 2020, PDM plans to use the funds to continue to enhance its cloud-based automotive parts electronic product data catalog and data management platform, to accelerate new customer adoption and to streamline onboarding new customers to its platform, the company said.
