Paperless Parts announces $30 million Series B funding

Boston-based Paperless Parts, a provider of estimating and quoting software for job shops and contract manufacturers, has announced a $30 million Series B funding round led by OpenView.

Paperless Parts’ software platform helps job shops and contract manufacturers of any size manage and streamline operations, improve customer service, and grow their businesses, the company reports. Its estimating and quoting platform includes customer relationship management, an intelligent configure price quote system, secure file sharing, integrated quote performance analytics, and comprehensive reporting.

This latest funding round will enable the company to expand and strengthen its capabilities across the platform, including a recently announced partnership with PennEngineering. Backing from OpenView and other industry experts also will accelerate the introduction of features currently under development, including enhanced estimating automation using model-based definition files, the development of a natural-language processing engine to streamline estimating from technical drawings and other PDF documents, and vendor request-for-quote functionality.