MarkITx operates an online marketplace connecting buyers, sellers and wholesalers of secondary IT equipment. It uses real-time intelligence to determine market value based on current global supply and demand. The company completed a second seed funding round of $2.15M. Backers included original angel investors Michael Balkin, Francis Wisnewski, Jack Keenan, John Ward and other Chicago business leaders. Led by founder/CEO Frank Muscarello, MarkITx is an original member of the 1871 startup hub and is based in Chicago. At the time of the announcement the company employed 11 people and planned to hire another 10 within a year. MarkITx operates a technology platform and marketplace for trading secondary IT hardware, using a proprietary algorithm to provide predictive pricing and real-time transparency around depreciating IT values. The company was founded in 2012 by CEO Frank Muscarello, CTO Ben Blair and President Marc Brooks and launched in April 2012. MarkITx’s platform hosts approximately $10M in Demand and $900,000 in Supply posted, with a majority of listings coming from Cisco networking equipment and Apple iPads for the B2B market. The startup is based in Chicago, IL. It raised more than $1.06M in angel funding and plans to use the capital to scale its team and further build out its platform.

Total raised

$3M

Funding rounds

2

Latest round

Seed

Latest activity

Jul 2013