Xometry, the largest on-demand manufacturing marketplace, announced today that Katharine Weymouth and Deborah Bial will join Xometry's Board of Directors as independent directors.
As veterans of digital media, B2B marketplaces and education, Weymouth and Bial bring strong expertise and insights to help propel Xometry's growth. Xometry recently announced a $75 million equity round led by T. Rowe Price Funds. Since its 2013 inception Xometry has raised $193 MM.
"Xometry uses its patented AI technology to change how manufacturing is procured and delivered through digital channels," said Randy Altschuler, CEO of Xometry. "We're thrilled to add Katharine and Deborah's expertise and perspective to our board as we broaden our focus and deliver new innovations to strengthen the manufacturing ecosystem."
Katharine Weymouth is COO of DineXpert, a marketplace connecting independent restaurants with high quality local suppliers. She previously held numerous leadership positions at The Washington Post, including Publisher and Chief Executive Officer from 2008 through 2014. Weymouth sits on the boards of directors of Republic Services, Cable One, Inc., and Graham Holdings Co. She also serves as a trustee of the Philip L. Graham Fund, as Vice President-Nominating of The Economic Club of Washington, D.C., and as a trustee for the Greater Washington Community Foundation. Weymouth graduated from Harvard University and earned her law degree from Stanford University.
"Xometry is transforming the $260B global custom manufacturing market by providing the technology to optimize the connection between supply and demand," said Weymouth. "I look forward to helping them lead the secular shift to digital manufacturing while providing small and medium-sized manufacturers the tools they need to grow their businesses."
Deborah Bial's extensive experience in facilitating dialogue related to the issues of access, equity and diversity has gained her national recognition in the higher education community in the United States. She is president and founder of the Posse Foundation, a youth leadership development and college success organization that sends teams ("posses") of students from diverse backgrounds to selective colleges and universities. Since 1989 over 10,000 Posse Scholars have won $1.5 billion in leadership scholarships from Posse's partner colleges and universities, graduating at a rate of 90%. In 2007, Bial received a prestigious MacArthur Fellowship and in 2010 President Barack Obama named Posse as one of ten nonprofits that would share his Nobel Peace Prize money. Bial graduated from Brandeis University and earned master's and doctoral degrees in education from Harvard University. She is also a member of the Brandeis University Board of Trustees.
"Manufacturing is a critical part of the broader small business market, which is the backbone of the American economy," said Bial. "As part of Xometry's Board, I want to help under-represented communities gain access to and become part of this sector. Xometry's marketplace provides exciting opportunities to promote and facilitate that inclusion."
Xometry's revenue has doubled each year since 2015 and is continuing this aggressive pace in 2020. Recent innovations from Xometry include the Xometry Advance Card, which improves cash flow via immediate access to funds on a debit card.