Online sourcing company PartMiner Inc. said today it has won an additional $37.5 million in funding.
The company's most recent round of private financing comes from current investors, Cahners Business Information, IHS Group, and Onex Corp. To date, PartMiner, New York, has raised $115 million in private equity and has filed with the Securities Exchange Commission to go public.
The money will be used primarily to grow the company and its Internet marketplace, the Free Trade Zone. Additionally, a portion of the capital will be dedicated to supporting its Excess Trade Zone, which was launched in September, PartMiner said.
Publishing company Cahners and IHS, which sold its CAPSXpert database of component information to PartMiner last year, have both invested in PartMiner on three separate occasions. Onex, a Canadian investment firm which holds a significant interest in contract electronics manufacturer Celestica Inc., is a two-time investor in PartMiner.