Newest Alumni of Startup Hub 1871 Opens Its Own Office and Hires as Platform Gains Market Traction
MarkITx, the premier online marketplace for buyers, sellers and wholesalers of secondary IT equipment, today announced that it has completed a $2.15 Million second round of seed funding. Every original MarkITx angel investor, including Michael Balkin, Francis Wisnewski, Jack Keenan, John Ward and other prominent Chicago business leaders, doubled down on their initial investment, bringing the company’s early financing to $3.31 million.
“This latest round of funding shows the commitment of our investors and reinforces their belief in our platform as a scalable and necessary means of disrupting the $320 billion secondary IT market,” said Frank Muscarello, serial entrepreneur and Founder/CEO of MarkITx.
One of the original members of the startup hub, 1871, MarkITx also holds the distinction of now becoming one of the original “graduates” of the co-working center for tech startups. MarkITx moved from 1871 to a temporary suite at 1 E Wacker Drive while its 2600 sq. ft. of permanent office space is being completed in the same building. The company now employs 11 people with plans to hire another 10 in a year.
“I congratulate MarkITx on its latest round of funding. 1871 is a hotbed of innovation, producing great companies around Chicago, and I look forward to continued great accomplishments,” said Chicago Mayor Rahm Emanuel.
MarkITx’s revolutionary platform brings buyers and sellers together by providing real-time values of depreciating IT equipment and access to the marketplace’s global inventory. Sellers shorten their technology refresh cycles by utilizing the platform’s value-over-time information. Buyers bid on listed products &/or indicate products they are looking to acquire which are not currently listed in the MarkITx marketplace.
From its initial beta launch in May 2012, the transparent two-sided market continues to gain traction; inventory levels now exceed $65 million with over $40M supply and $25 million in demand.
For more information visit http://www.MarkITx.com or follow us on Twitter @MarkITx. View the original post here.
