Paperless Parts Achieves Record Growth in 2021 Paving the Way for An Incredible 2022

The start of a new year is a time for reflection and goal setting. 2021 was filled with incredible milestones and achievements for the Paperless Parts team as we achieve record growth.

Our Team

To start, we tripled the size of our team to 84 people and it keeps growing every week! Our engineering team alone tripled in size to match the commitment we are making to continuous innovation and building the best possible products we can for our customers. We also doubled the size of our Customer Success and Support team in 2021. In a time when a lot of companies are choosing to skimp on support, we are doubling down because we know relationships matter and are committed to helping our customers be as successful as possible. This past year we have launched significant updates to Help Mode, an in-app resource inside the Paperless Parts platform, to ensure our customers are successful.

2021 was a year of growth for our leadership team as well, hiring leaders in Sales, Strategic Relationships, Marketing, Engineering, and Customer Success. With our people at the center of our success and the success of our customers, we hired a Head of People to build out our People function and ensure our team is equipped with tools for success and continuous growth.

With this growing team, we moved to a bigger and better office space to promote an environment of collaboration, teamwork, and motivation. And we aren’t slowing down in 2022! We have 22 open positions and plan to continue to hire at this pace for the foreseeable future.

Our Customers

In 2021, Paperless Parts more than doubled the number of customers we have. This is an incredible metric of success and a true testament to our team and the relationships we continue to build in the manufacturing industry.

Our customers have uploaded 1 million files to the platform in the last 12 months and are processing more than $2.5M worth of orders every day.

While we remain committed to Job Shop manufacturing, we saw significant growth in our enterprise customers in 2021. These larger corporations working to unify multiple sites under one umbrella are coming to Paperless Parts for the exact same reasons that small to mid-sized companies are, to improve their estimating and quoting processes while giving leadership the visibility to make data-driven decisions for the business.

Read about the value our customers are seeing on Paperless Parts.

Engineering & Product

We launched over 100 software releases and built integrations with 17 different ERP, CRM, and accounting systems. With the launch of Workflows, manufacturers with large teams can streamline their estimating and quoting process and seamlessly coordinate all necessary stakeholders with end-to-end visibility, communication, and data-sharing. With the launch of Advanced Analytics, manufacturers can now unlock the power of their quote-to-order data and leverage multiple layers of data to make impactful decisions.

Some other critical capabilities we launched in 2021 include:

• Colors of Money – a more flexible and granular way to apply cost and price
• Adobe Level PDF Interactions – a more powerful way to view and interact with technical drawings
• View Any File Format – unlocked the ability for our users to engage with Tiff files and MS Office files right through the Paperless Viewer
• Enhanced Assembly Builder – Giving our users the ability to build manual subassemblies
• Powerful Nesting – the ability to generate intricate efficient nests to maximize material usage
• Support for Multiple Facilities – sending quotes from multiple facilities

Partnerships

Paperless Parts announced a partnership with Penn Engineering in July of 2021 with a mission to help sheet-metal fabricators generate faster, more accurate quotes. We also expanded our partnerships with NTMA, PMPA, and a variety of ERP companies.

“When I think about the last year at Paperless Parts, two words come to mind: acceleration and accountability. In my 10+ year career, I’ve never worked somewhere that is able to move so quickly with the level of accountability and integrity that our team does here. It is a truly unique and motivating environment, and somewhere I feel fortunate to be. This year is going to be a new challenge for us, but one that we are ready and eager to take on.” – Lindsey Athanasiou, VP of Strategic Relationships

Financing

We closed a Series A and Series B Financing round in 2021, and while raising capital to finance the business is never the goal of the company, the fact that we were able to secure capital from amazing investors is an indication of how well our team is executing and the opportunity that exists to make a positive impact in the industry.

What to expect in 2022

January 1, 2022, is Day 1 for Paperless Parts because we are just getting started. The name of the game is customer value and our commitment to making Paperless Parts the most valuable piece of software every one of our customers uses. To support this we have expanded our product teams and we will be racing forward to launch new valuable functionality based on feedback from hundreds of customers that help us get better every day.

We will continue building an amazing team of people who care about the manufacturing industry and recognize that relationships matter. In that vein, we are hiring for dozens of positions that will all have a significant impact on our growth in 2022 and beyond.

We have some really exciting partnerships to be announced in 2022 that will continue to expand on the value that our product brings to current and future customers.