Metal Networks, the foremost worldwide software solution for buying and selling semi-finished industrial metal, today announced $5 million in Series A financing. S3 Ventures, a leading Texas venture capital firm, led the round. After its 2013 graduation from SURGE Ventures’ accelerator program, Metal Networks is using this latest round of funding to extend its growth and sales.
“Metal Networks is at the forefront of enabling buyers and sellers within the metals market to surpass their sales goals through the power of its software solution,” said Jeremy Chapman, founder and CEO of Metal Networks. “We are revolutionizing trade within the metal industry.”
“We at S3 see great opportunity in bringing a marketplace to the metal buying and selling business,” said Brian R. Smith, managing director at S3 Ventures. “Jeremy and his team have built a great product, engaged great customers, and we are excited about helping the team scale the business.”
“We are pleased to partner with the team at S3,” said Chapman. “The S3 team brings a wealth of experience in enterprise B2B, and we expect 2015 to be a year of significant growth as we continue to expand our market presence. The additional financing will provide critical resources to help meet that objective.”