Part Analytics Company Profile

Background

Founded in 2019, Part Analytics is a Milwaukee-based company specializing in AI-powered supply management solutions for the electronics manufacturing industry. The company's mission is to transform sourcing into a competitive advantage for manufacturing companies by providing a unified strategic sourcing platform for direct materials. Part Analytics serves a diverse set of customers, including industrial, medical device, and electronics manufacturing sectors.

Key Strategic Focus

Part Analytics focuses on digitizing manual processes in manufacturing supply chains, offering a comprehensive solution for cost optimization, supply risk management, and network collaboration. The company's AI-powered platform provides critical supply chain insights and enhances operational efficiency throughout the product lifecycle. Key technologies utilized include machine learning algorithms that analyze spend and supply data, enabling proactive risk management and cost transparency. The primary markets targeted are Original Equipment Manufacturers (OEMs) and Electronics Manufacturing Services (EMS) companies.

Financials and Funding

In August 2021, Part Analytics secured a $3 million venture round led by MK Capital, bringing the total funds raised to $4 million. This funding was intended to accelerate the adoption of AI-powered technologies in direct procurement processes and enhance the company's Design to Source platform. Notable investors include MK Capital and the Idea Fund of La Crosse.

Technological Platform and Innovation

Part Analytics' platform is distinguished by its proprietary AI-driven capabilities that provide real-time insights into component availability, cost, lead time, and product lifecycle. The platform offers several key modules:

Part IQ: Delivers part availability insights, enabling proactive management of supply chain disruptions.

BOM IQ: Provides comprehensive Bill of Materials management, facilitating cost optimization and risk mitigation.

Category IQ: Enhances category management by integrating data from internal sources, suppliers, and manufacturing partners.

RFQ IQ: Digitizes manual Request for Quotation processes, streamlining supplier negotiations and tail-spend management.

LOA IQ: Manages Letters of Authorization, ensuring compliance and reducing administrative overhead.

Executive IQ: Offers executive-level insights for strategic decision-making.

These modules collectively enable seamless collaboration between engineering and sourcing teams, accelerating product development and improving gross margins.

Leadership Team

Jithendra Palasagaram: Founder & Chief Executive Officer. Prior to founding Part Analytics, he served as Senior Manager of Global Sourcing at GE HealthCare, bringing over 13 years of experience in supply chain management.

Jesil Pujara: Co-Founder & Head of Product. He leads product development initiatives, focusing on enhancing the platform's capabilities to meet evolving customer needs.

Jim Robinson: Head of Global Sales. Responsible for driving global sales strategies and expanding the company's market presence.

Aaron Simon: Head of Marketing. Oversees marketing efforts to build brand awareness and generate demand for the company's solutions.

The board of directors includes Mark Koulogeorge, Managing Partner at MK Capital, who joined following the 2021 funding round.

Leadership Changes

In January 2025, Part Analytics was acquired by Altium Ltd., a global provider of electronics design software. This acquisition is expected to integrate Part Analytics' supply management solutions into Altium's cloud-based collaboration platform, Altium 365. The leadership team, including CEO Jithendra Palasagaram, continues to play a pivotal role in this new phase.

Competitor Profile

Market Insights and Dynamics

The supply chain management software market is experiencing significant growth, driven by the increasing complexity of global supply chains and the need for digital transformation. The integration of AI and machine learning technologies is becoming a critical differentiator in this space.

Competitor Analysis

Key competitors in the supply chain management software market include:

SAP Ariba: Offers comprehensive procurement solutions with a focus on spend management and supplier collaboration.

Coupa Software: Provides a cloud-based platform for business spend management, emphasizing cost control and compliance.

Jaggaer: Delivers procurement and sourcing solutions with advanced analytics and supplier management capabilities.

These competitors focus on various aspects of procurement and supply chain management, leveraging technologies such as AI and machine learning to enhance their offerings.

Strategic Collaborations and Partnerships

Part Analytics has established several strategic partnerships to enhance its platform capabilities:

Arena, a PTC Business: In March 2024, Part Analytics announced a partnership with Arena to integrate product lifecycle management data, streamlining data connectivity and analysis for users.

MultiTech: In July 2022, MultiTech selected Part Analytics to manage direct materials supply management initiatives, aiming to improve tracking and acquisition of a wide range of components.

Operational Insights

Part Analytics differentiates itself through its AI-powered platform that digitizes manual sourcing processes, providing actionable insights on supply risk and cost management. The platform's ability to integrate with existing PLM and ERP systems offers a seamless user experience, enhancing operational efficiency and supply chain resilience.

Strategic Opportunities and Future Directions

Following its acquisition by Altium Ltd., Part Analytics is poised to expand its reach within the electronics design and manufacturing ecosystem. The integration into Altium's offerings is expected to create new synergies and elevate Part Analytics' market position further.