Randy Altschuler
Randy Altschuler - Chief Executive Officer
Prior to co-founding Xometry, Randy co-founded and was Executive Chairman of CloudBlue, a leading provider of recycling services for electronic equipment. CloudBlue was acquired by Ingram Micro in September of 2013. Before CloudBlue, Randy was the co-founder and chief executive officer of OfficeTiger, a global BPO company. OfficeTiger was acquired by RR Donnelley in April of 2006. Randy is a member of the Regional Manufacturing Institute of Maryland's (RMI) Board of Directors, representing the interests of manufacturers across the region. Randy graduated from Princeton University and received an MBA from the Harvard Business School.
Join General Partner Hunter Somerville for a conversation with Randy Altschuler, the company's Founder and CEO.
In this interview you will learn:
1. How to pronounce Xometry
2. How Randy pivoted to being an entrepreneur after stints in banking and politics
3. How the company was launched to bring technology to the gigantic, $250 billion manufacturing industry to make it a more efficient and better process for both buyers and sellers
4. Why Xometry sought venture capital investment and how to pick the right partner
5. The challenges of shifting the manufacturing industry's mindset to accepting a digital experience without sacrificing quality, and the role of manufacturing in the U.S. economy
6. Xometry's vision of being a one-stop shop for the customer and the best way for small manufacturers to do business
7. How Randy has worked to maintain a culture of innovation and entrepreneurialism through all stages of growth
8. How Xometry is not only offsetting carbon emissions from their own shipping but also allowing customers to offset carbon emissions from their manufacturing projects at the time of purchase
9. Randy's view of the entrepreneurial and manufacturing ecosystems in Maryland and how Xometry is creating jobs not only within its organization but among the manufacturers it serves
10. How Xometry is helping America during the pandemic, from manufacturing PPE and ventilators to helping small businesses emerge and survive
Hunter Somerville Bio:
Hunter is a General Partner at Greenspring Associates and is responsible for the sourcing and due diligence efforts on fund, direct and secondary opportunities. He is also actively involved in the assessment of micro-vc managers for the Firm. Additionally, Hunter serves on the LP Advisory Boards for 5 AM Ventures, K2 Venture Capital, Arthur Ventures, Anthos Capital, Bolt, Pear, Bullpen Capital, Redpoint China, Fika Ventures, Felix Capital, Foundry Group, Icon Ventures, Imaginary Ventures, Pioneer Square Labs, Primary Ventures, Scale Venture Partners, TLV Partners and Amiti Ventures. Hunter has played a meaningful role in Greenspring Associates’ investments in Matrix Medical, Docusign, Glossier, Xometry, Rover, Teladoc, Senseonics, G5, Rocket Lab, Channel 51, Omnispace, Degreed, Buildops, Filevine, Reliaquest and PolicyGenius. Prior to joining Greenspring, Hunter worked as an Associate for Camden Private Capital. While at Camden Private Capital, he conducted due diligence and monitored fund investments across venture capital, growth equity, debt and buyout structures. Hunter received his M.B.A at the Robert H. Smith School of Business with a concentration in Finance and Strategy. He completed his undergraduate degree from the University of Pennsylvania with a Bachelor of Arts in International Relations and a minor in History.
Unlike other forms of private investment, venture brings significant human capital to bear in the form of acting as a strategic advisor to the entrepreneur and working together to form a winning strategy. At Greenspring Associates, we are committed to leveraging our human capital alongside our financial capital to effect powerful enterprise capital via our dedicated Portfolio Impact program.
Since leading Xometry's Series D financing in in 2019, we have made a series of introductions for the benefit of the on-demand manufacturing marketplace, including $24 million in prospective customer leads, C-Suite candidate Jim Rallo, who has since assumed the role of CFO, $10 million in customer orders for PPE through our robust network of hospital systems and strategic investor connections for their recent $75 million crossover round.
About Xometry
Founded in 2013 and based in Gaithersburg, Maryland, Xometry is a marketplace that provides customers of all sizes with access to high-quality manufacturers for custom parts. The Company’s instant quoting platform and large network of machine shops has helped transform custom manufacturing across industries including aerospace, automotive, consumer and healthcare. Now customers like BMW, GE, Dell, Bosch and NASA can source critical component parts with lower lead times from a wide array of suppliers. Simultaneously, manufacturers in the Xometry network benefit from a broader potential customer base and the ability to more efficiently bid on applicable projects.
Press releases:
Sophia MacDonald Joins Xometry as Chief People Officer
T. Rowe Price and Greenspring Associates Join $75 Million Financing of Xometry
Katharine Weymouth and Deborah Bial Join Xometry's Board of Directors
