Kinnek

Kinnek
Private
Industry Software
Founder Karthik Sridharan, Rui Ma
Headquarters New York, New York, USA
Products Business-to-Business Marketplace
Website www.kinnek.com

Kinnek is an American technology company, founded in 2012 by Karthik Sridharan and Rui Ma. It is currently headquartered in New York City.

Kinnek provides a business-to-business online marketplace through which small and medium businesses can connect with suppliers, manage purchasing operations, and maintain supplier relationships. Comparisons have been drawn with Chinese B2B giant AliBaba.[1][2]

History and funding

Kinnek is a Fall 2012 graduate of the AngelPad incubator, founded by Thomas Korte. In December 2012, Kinnek raised $3 million in seed funding.[3]

In September 2014, Kinnek raised $10 million in a Series A financing round led by Matrix Partners, with participation from previous investors including Sierra Ventures, Version One Ventures, Naval Ravikant, CrunchFund, Richard Chen, TriplePoint Ventures, and Benjamin Ling.[4] As a result of the financing, Josh Hannah of Matrix Partners joined Kinnek’s board of directors.

Product offering

Kinnek is an online marketplace for small and medium sized businesses to connect with suppliers and manage their purchasing operations.

Purchasing businesses post a request for a product – including details on price, specifications, quantity, and more – which is then filtered by various algorithms and presented to relevant suppliers, who may respond with customized quotes.[5] After receiving their quotes, businesses may then select the supplier. Every supplier on Kinnek has a publicly accessible profile with ratings, comments, supplier information, and product offerings.

References

  1. ↑ Flamm, Matthew. "Alibaba wannabe Kinnek gets $10M". www.crainsnewyork.com. Retrieved October 11, 2014.
  2. ↑ "B2B Marketplace Kinnek Secures $10M In Series A Funding". www.pymnts.com. Retrieved October 11, 2014.
  3. ↑ Kokalitcheva, Kia. "Kinnek grabs a new $10M to help small businesses shop for supplies". Retrieved October 11, 2014.
  4. ↑ Carney, Michael (September 15, 2014). "Kinnek raises $10M from Matrix to help SMBs handle procurement like the big boys". Retrieved October 11, 2014.
  5. ↑ Lawler, Ryan. "B2B Marketplace Kinnek Raises $10 Million From Matrix To Help SMBs Find And Purchase Supplies". Retrieved October 11, 2014.