AI Startup Forgepoint Raises $9.8M in Seed Funding

Forgepoint, a NYC-based provider of an AI inside sales rep platform built for manufacturing, has raised $9.8 million in a Seed financing round.

The round was led by Primary Venture Partners and a16z speedrun, with participation from angel investors.

The company will use the funding to grow its team and expand operations. Its platform helps manufacturers automate quoting and sales tasks through an AI product called Frank.

What is Forgepoint?

Forgepoint develops AI tools that help manufacturers automate back-office work, starting with sales and quoting.

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Its flagship product, Frank, works alongside existing teams to manage customer requests, review part files, prepare quotes, and follow up with buyers. It operates across the emails, documents, pricing rules, and business systems manufacturers already use.

Frank analyses incoming requests for quotations (RFQs), identifies missing information, prepares pricing using each manufacturer's cost model and sends draft quotes to the appropriate person for review.

The platform can be configured for different manufacturing businesses, including metal service centres, foundries, injection moulding, fabrication, stamping, machining, and automation companies.

How Much Funding Has Forgepoint Raised?

Forgepoint has raised $9.8 million in its latest seed funding round.

The source does not provide details of previous funding rounds or the company's total funding raised to date.

Who Invested in Forgepoint’s Seed Round?

The $9.8 million seed round was led by:

• Primary Venture Partners
• a16z speedrun

Angel investors also participated in the round. Their names were not disclosed in the source.

Why the Funding Matters

Forgepoint will use the new funding to expand its operations and grow its team.

The investment will support the company's efforts to help manufacturers reduce the time spent preparing quotes, managing customer requests, and coordinating work between sales and engineering teams.

Who founded Forgepoint?

Forgepoint was founded by Alex Pareto and Jack Strauss. The company is based in New York.

“We kept meeting manufacturers with strong demand and capable teams, but their best people were spending hours on administrative work. Speed is a competitive advantage, so we built Frank to keep jobs moving and free skilled operators to focus on the decisions only they can make,” said Jack Strauss, CEO and Co-Founder of Forgepoint.

As Frank works, it also preserves the emails, attachments and reasoning behind every decision, building a memory of how each shop prices work. That matters as veteran employees retire and manufacturers risk losing years of pricing logic, customer preferences and exceptions that live in their heads and inboxes. “A manufacturer’s ability to grow depends on how much work its team can quote, plan, and manage,” said Zach Fredericks, Principal at Primary Venture Partners.

Market and Business Growth

Forgepoint reported early adoption and business growth following the launch of Frank.

Key business metrics include:

• Annual recurring revenue: Forgepoint reached seven-figure ARR within six months of Frank's launch.
• Weekly users: Hundreds of engineers, estimators and sales representatives use Frank each week.
• Quote throughput: Monthly quote volume has increased by an average of 30% across customers.
• Time to quote: Customers have reduced time to quote by more than 55%.

Frank is designed to adapt to each manufacturer's pricing rules, approval processes, and operating procedures. It can review customer requests, identify missing specifications, prepare pricing, route drafts for review and manage follow-ups after quotes are sent.

What Happens Next?

Forgepoint plans to use the funding to grow its team and expand operations.

The company will continue developing Frank to help manufacturers automate quoting and sales workflows while allowing their teams to retain control over technical reviews and pricing decisions.

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