Listen to this articleVoomi Supply is a Philadelphia-based B2B eCommerce platform that specializes in connecting contractors in the HVAC, plumbing, and electrical industries with a network of over 200 distributors and manufacturers. The company recently secured $10 million in Series A funding led by Asymmetric Capital Partners, with participation from Highmount Capital and existing investors, to fuel platform enhancements, supplier network expansion, and projected revenue growth to $100 million this year.
What is Voomi Supply?
Voomi Supply is a Philadelphia, Pennsylvania-based B2B eCommerce platform founded in 2019 by Faron Schonfeld, Andy Chalofsky, and Josh Chalofsky. The company specializes in serving the HVAC industry and broader industrial trades, offering access to over one million parts and equipment SKUs through an online marketplace that connects contractors with a network of more than 200 distributors and manufacturers nationwide. It operates as a technology driven platform aimed at modernizing procurement in fragmented supply markets, including HVAC, plumbing, and electrical supplies. Under CEO RJ Cilley, Voomi Supply has experienced rapid growth, with revenue increasing over 100% year over year in the prior period, and the company projects reaching $100 million in revenue for 2026.
Voomi Supply has raised a total of $11 million across two funding rounds. The initial round was a seed investment of approximately $1 million on October 2023, with participation from early backers including Operator Partners. The latest round is a $10 million Series A, marking a significant step up in capital to support expansion.
The $10 million Series A round was led by Asymmetric Capital Partners, with participation from Highmount Capital and continued support from existing investors, including the founders and Operator Partners. This investment comes at a time when Voomi Supply is positioned for accelerated growth in the B2B eCommerce space for industrial supplies. The round values the company’s focus on AI driven procurement tools, which streamline discovery and purchasing in a traditionally fragmented market. Compared to the seed round, this Series A represents a tenfold increase in funding, reflecting investor confidence in the platform’s traction and scalability.
- Asymmetric Capital Partners: As the lead investor, this venture capital firm, represented by David Hawkins, emphasizes growth stage investments in B2B technology platforms. Their involvement signals strong belief in Voomi Supply’s ability to disrupt legacy supply chains in HVAC and industrial sectors.
- Highmount Capital: A participant in the round, this firm focuses on supporting innovative companies in supply chain and eCommerce, adding strategic expertise to Voomi’s expansion efforts.
- Operator Partners and Founders: Existing backers provided follow-on investment, demonstrating ongoing commitment to the company’s vision.
The funds from this Series A will primarily accelerate the development of Voomi Supply’s technology platform, including enhancements to AI driven features for procurement efficiency. Key allocations include:
- Expanding the supplier network to onboard more distributors and manufacturers.
- Extending the product catalog into additional categories such as plumbing, electrical, and other industrial segments.
- Scaling the team to support operations and customer experience improvements.
- Driving overall growth to capitalize on the platform’s momentum in a market ripe for digital transformation.
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Voomi Supply operates in a competitive B2B eCommerce market for industrial supplies, facing rivals like Grainger, Fastenal, and Milwaukee Tool. The HVAC and industrial procurement sector is characterized by fragmentation, with traditional methods relying on local distributors and manual processes. Voomi’s platform addresses these pain points by centralizing access to a vast inventory, reducing procurement times, and offering competitive pricing through its network. The funding arrives amid broader trends in digital adoption for trades, accelerated by post pandemic supply chain disruptions and the rise of eCommerce in B2B sectors. With over 324 active competitors, including 5 funded and 59 exited companies, Voomi’s capital efficient growth, achieving triple digit revenue increases without heavy prior investment, positions it favorably for market share gains.
This Series A funding validates Voomi Supply’s business model and sets the stage for aggressive expansion. By bolstering its AI capabilities and supplier ecosystem, the company could capture a larger portion of the multi billion dollar HVAC and industrial supply market, potentially leading to improved margins through economies of scale. Risks include intense competition and economic sensitivities in the construction and trades sectors, but the investment from specialized VCs like Asymmetric suggests robust due diligence on these factors. Looking ahead, Voomi aims to hit $100 million in revenue this year, with potential for further rounds if growth targets are met. This could pave the way for strategic partnerships or acquisitions to consolidate its position in industrial eCommerce.
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