Despite the hiring freezes and layoffs happening across tech giants and startups alike, Paperless Parts is confident that it will continue to grow in 2023.
So confident, in fact, that the Boston-based company has tripled its office size with a new 24,565-square-foot space at 60 State St.
Paperless Parts, which operates an estimating and quoting platform for job shops and contract manufacturers, said its team grew by 86% in 2022. A spokesperson for the company said Paperless Parts has 154 employees, with 124 in Boston, and nearly doubles its employee count over the past year.
The company said it plans for “continued growth over the next 12 months.”
“We simply outgrew our old office ... It got to the point where no matter how many times we reconfigured the layout of our old offices, we couldn’t comfortably accommodate our growing team,” a company spokesperson said in an email to BostInno.
The Boston company moved into its last office in the summer of 2021. The space was located across from North Station and TD Garden in the West End.
“The past year has been one of tremendous growth on all fronts. A key ingredient in our ability to grow as quickly as we have has been the addition of exceptional leaders and a strong hybrid office culture that allows people to collaborate and innovate,” said Jason Ray, co-founder and CEO of Paperless Parts, in a statement.
Along with its new office, Paperless Parts also announced the hiring of Alan Hawley as senior vice president of sales, and Jason Luce as senior vice president of engineering. Hawley has led sales teams for companies such as Validity Inc., Tomorrow.io and Volt Active Data. Luce was most recently SVP of engineering at SessionM, which was acquired by Mastercard in 2019. Before that, he was head of engineering for LogMeIn's emerging products line of business.
Paperless Parts was founded in 2017 and most recently raised a $30 million Series B round.
The company said its 2022 year-in-review accomplishments included doubling its annual recurring revenue and growing its customers by 117%. It also launched several new features to help reduce the manual steps and time required for estimators to generate quotes.
Last year, Paperless Parts also opened a new office in Encinitas, California. They opened this new office to support the manufacturers that service aerospace companies in Southern California.
The company has 15 open roles on its careers site, including positions in design, engineering, human resources, marketing and sales.
“Whether the post-Covid manufacturing slingshot continues like it’s expected to, or if some shops or parts of the industry start to feel a slow down, Paperless Parts helps the American manufacturing industry as a whole stay competitive. We are committed to investing responsibly to bring new products to market to help these shops succeed in any economic climate, and to do that, we need to continue to hire the right people and provide them with an office that is designed to foster their creativity,” the company said in an email.
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Due to incorrect information provided by Paperless Parts, a previous version of this story misstated the rate of employee growth over the last year.
