CERRITOS, CA — Toolots Inc., a rapidly growing e-commerce platform for industrial equipment, has landed a $3 million investment from Decathlon Capital Partners to accelerate its growth. The revenue-based investment package will support the continued expansion of products and inventories that are the cornerstones of Toolot’s accelerating revenue growth.
Founded in 2016, the company is headquartered at Cerritos, CA.
“With nearly 3,000 merchants across the globe relying on Toolot’s platform to meet the needs of more than 50,000 customers, Toolot clearly has demonstrated the superlative value proposition of a direct-sales, e-commerce model for industrial equipment,” said Jason Fu, Founder and Chief Executive Officer of Toolots. “Toolots has been rapidly adding new merchants and new product lines, allowing our company to provide unrivaled product selection and availability, timely delivery and after-sale support, all with extremely competitive pricing.”
Kevin Grossman, Vice President of Decathlon Capital Partners, said Toolots has successfully built relationships in industrial-equipment verticals ranging from materials-handling to laboratory equipment and metal machine tools. “These relationships in combination with the knowledge of Toolots’ staff and its U.S. distribution facilities position the company to create new marketplace efficiencies,” Grossman said. “Manufacturers and customers alike benefit from the highly innovative Toolots platform.”
The investment is based on a revenue-based finance arrangement, meaning no equity or ownership was exchanged for growth capital. Instead, the investment will be repaid through Toolot’s future revenue.
Toolots.com is an online marketplace and distribution channel for factory-direct industrial tools, machinery and technology. Based in California, Toolots.com is dedicated to selling high-quality manufacturing equipment at the best price, and delivering it fast. Learn more at www.Toolots.com.