SupplyFrame Gets $7 Million In Funding
SupplyFrame doesn’t try to fight with Google, Yahoo, and the rest; instead, it provides “search and interactive quoting tools for electronic components.” Yet there’s apparently big money in that aspect of the search business – SupplyFrame just received a fresh $7 million in funding.
“Here we go!” begins the related post on SupplyFrame’s blog. “Today we closed our series B round led by USVP for $7M. Our previous investors, Clearstone and Arcturus, also participated.”
Jim Armstrong, the Managing Director of Clearstone Venture Partners, then hinted at the key to SupplyFrame’s success. “Consumer search has historically been successful with performance-based advertising and lead generation,” Armstrong stated in a press release. “SupplyFrame is delivering the same model inside the business process with performance and search-based advertising. This is an exciting change for the industry.”
Of course, another way to find the key to SupplyFrame’s success might be to look at its actual site. The main page offers, among other things, a SupplyFrame Search PlugIn and search bar. After I typed in a few random numbers, SupplyFrame informed me, “Your search did not match any part details in the SupplyFrame data warehouse. Extended search results are provided from the SupplyFrame custom search with our partner Google.” Well, it’s good to know that Mountain View’s involved.
VentureBeat played with the site for a longer period of time, and “noted a few bugs on SupplyFrame. After initially being able to search through on results, we were hit by error pages on later tries.”
Still, $7 million will go a long way towards squashing a few bugs. SupplyFrame appears to be doing a solid job of filling a search niche.