Forgepoint Raises $9.8 Million to Automate Manufacturers’ Quoting Workflows

New York-based Forgepoint raised $9.8 million in seed funding on October 14 to further develop Frank, an AI-driven inside sales agent tailored for manufacturers. Primary Venture Partners and a16z led the investment, with additional participation from angel investors linked to OpenAI, Brex, Vercel, and SoFi. The funding will be allocated towards expanding Forgepoint's reach, enhancing integrations, and increasing its team.

Frank automates the transition from request for quotation (RFQ) to purchase order (PO), managing communications via emails, technical documents, pricing models, and approval processes. The company achieved $1 million in annual recurring revenue within six months of Frank's launch, with numerous engineers, estimators, and sales representatives utilizing the system weekly.

Customers reported a 30% increase in monthly quote throughput and a 55% reduction in time-to-quote, according to Forgepoint. The company's solution bridges the divide between production automation and accompanying administrative tasks. Traditional quoting processes often rely on email, spreadsheets, and outdated software, causing delays in response times and quote preparation.

Co-founder and CEO Jack Strauss, who previously worked at Northrop Grumman and Bain & Company, along with co-founder Alex Pareto, previously the head of engineering at Brex, conducted extensive visits to manufacturing plants across the US Midwest. These visits aimed to identify bottlenecks and areas ripe for automation. They focused on applying AI advancements to support manufacturing operations, starting with inside sales.

A 2025 Gardner Intelligence study cited by Forgepoint revealed that nearly half of manufacturers expect vendor responses within 24 hours. Frank's role involves receiving an email address on the manufacturer's domain, configuring itself around the manufacturer's processes, and drafting quotes based on the company's cost model and historical data.

After obtaining approval, Frank generates the final quote in the company's template and manages follow-ups. Engineers, estimators, and salespeople remain responsible for the technical and commercial decisions, while Frank handles the administrative aspects. SIP Manufacturing, among other customers, has seen reduced manual quoting work and expedited approvals using Frank.

The system also archives emails, attachments, and decision-making rationales, preserving the manufacturer's pricing practices, customer preferences, and exceptions crucial for knowledge transfer as experienced employees retire. Forgepoint aims to extend its automation beyond quoting to other administrative departments, intending to enable manufacturers to handle increased business volumes without expanding their administrative workload.