This past June, we posted a blog about getting startups to the first trade. In early November, we practiced what we preach. Our client, MaterialsXchange, using our exchange platform (EP3), completed the first transaction on its newly-launched platform only four-and-a-half months after engaging Connamara.

Connamara leveraged the off-the-shelf functionality, ease of deployment, and flexibility of EP3 to create a marketplace customized to the complex business rules of the cash market for dimensional lumber and wood products. MaterialsXchange, using EP3, is providing improved price transparency and discovery to the lumber market.

According to MaterialsXchange CEO Mike Wisnefski, demonstrating to potential customers the ability to transact on the platform in such a short amount of time has moved the discussions from “what if you could…” to “you can now…”. This is allowing Mike and his team to start onboarding new customers immediately.

While MaterialsXchange was built as an MVP, the platform is ready built to scale to the size of the market because of the built-in scalability and throughput of EP3.

If you are contemplating building a platform to bring price transparency and discovery to a market, contact us and we will get you to the first trade, and beyond.