Kinnek operates a marketplace that lets small businesses solicit customized quotes from multiple suppliers and manage purchases; buyers use the platform for free while suppliers pay broker fees and transaction cuts. The company reports 20,000 businesses and 2,000 suppliers on the platform, and says users are striking millions of dollars worth of deals every week. Kinnek hosts Q&A forums and reputation mechanisms to encourage supplier discovery and discourage disintermediation. Product roadmap items include building a broader social graph, targeted owner groups, expanded payment handling, partial catalog displays, and invoicing. The company plans to grow its supplier and buyer base into verticals such as hotels, motels, farms and other agriculture businesses. The 30-person startup will use part of the new capital to hire salespeople to pursue that expansion. Kinnek is a New York City-based marketplace that helps small businesses find suppliers, compare customized quotes, and manage purchasing. It serves a range of small companies from restaurants and hotels to beverage producers and bakeries. The company targets 4.7 million U.S. small and medium businesses representing $2.2 trillion in annual aggregate spending on supplies and equipment. Kinnek plans to use the new funding to grow its marketing and engineering capabilities and expand into new industries. Founded in 2012 by CEO Karthik Sridharan and COO Rui Ma, the company aims to streamline procurement for smaller buyers that lack scale.

Total raised

$30M

Funding rounds

2

Latest round

Series B

Latest activity

Oct 2015