New & Noteworthy: MaterialsXchange

From left, the founding team of MaterialsXchange: Ian Polakoff, CFO; Mike Wisnefski, CEO; Joe Campagna, COO; Ashley Boeckholt, CRO

Launched in 2019, MaterialsXchange (MX) is an electronic marketplace for buying and selling raw materials. The first listings on MX were wood products, specifically Oriented Strand Board, European Spruce lumber, and Southern Yellow Pine lumber. Shortly after launch, the company completed its inaugural transaction, matching Binderholz Timber Inc. (seller) with Hart Lumber (buyer) for a first-ever deal between the two, which consisted of a full truckload of 2×4 Euro Spruce from the Port of Houston. (Normally user activity is strictly confidential, but the parties of the first transaction volunteered to share their involvement.)

MX is built to be scalable. The technology is designed to handle any product traded in a commoditized market environment and is built so that back-office functionality can grow in tandem.

MaterialsXchange was founded by Joe Campagna and Ian Polakoff, both with financial technology backgrounds. Mike Wisnefski is the company’s CEO, who together with Ashley Boeckholt, CRO, brought in the lumber experience with extensive track records at Bloch Lumber. In fact, the two started at Bloch at a young age, were co-workers, roommates, and have remained lifelong friends.

Headquartered in Chicago, the company seeks to foster the evolution of commerce in commodity raw materials by implementing innovative technology developed to complete the digital supply chain. The company says it is bringing transparent pricing and user-friendly technology to commodity materials markets. The MX platform is an e-commerce market- place that has the look and feel of a financial market, giving all participants market insight and the ability to place bids and offers in real time. In December 2019, MaterialsXchange joined the National Lumber and Building Material Dealers Association’s Manufacturers and Services Council.

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Former LBM Advantage leader, Paul Dean, was recently named director of business development at MaterialsXchange.

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