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Xometry files for IPO

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Xometry, an on-demand manufacturing outsourcing service, has filed a registration statement on Form S-1 with the U.S. Securities and Exchange Commission relating to a proposed initial public offering (IPO) of shares of its Class A common stock. The number of shares to be offered and the price range for the proposed offering have not yet been determined. As Xometry files for IPO, the company intends to list its Class A common stock on The Nasdaq Global Select Market under the symbol “XMTR.”

Goldman Sachs & Co. LLC, J.P. Morgan and UBS Investment Bank will act as joint lead book-running managers and as representatives of the underwriters for the proposed offering. Citigroup, BofA Securities, William Blair and RBC Capital Markets will also act as book-running managers. The proposed offering will be made only by means of a prospectus. When available, copies of the preliminary prospectus relating to the proposed offering may be obtained for free from Goldman Sachs & Co.

In the latest funding round, in 2020 the company raised an additional $75 million. Since its founding in 2013, Xometry raised $193 million, with a $55 million Series D round raised in 2019 as well. T. Rowe Price Associates, Inc. led the new round, with participation from Durable Capital Partners LP and ArrowMark Partners, as well as previous venture and strategic investors BMW i Ventures, Greenspring Associates, Dell Technologies Capital, Robert Bosch Venture Capital, Foundry Group, Highland Capital Partners, and Almaz Capital.

Xometry files for IPO

The 2019 Series D funding round was led by Greenspring Associated and also saw participation from GE Ventures, BMW i Ventures, Dell Technologies Capital, Foundry Group, Almaz Capital, Highland Capital Partners and Maryland Venture Fund—many of which were existing investors.

In July 2018, the company acquired MakeTime, a leading on-demand manufacturing company, which broadened its scope significantly. At the time, MakeTime investor Foundry Group led a $25 million funding round to support the merged company, which also included investors Almaz Capital, BMW i Ventures, GE Ventures, Highland Capital Partners and Maryland Venture Fund.

Presently, Xometry employs about 235 people and has recorded revenues for $149M (with losses) in the last fiscal year. It is one of the largest marketplace for custom manufacturing, connecting customers with optimal manufacturing solutions through proprietary AI algorithms.

 

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