MFG.com, which has been labeled as the ‘eBay of manufacturing,’ has secured $26 million in new venture financing.

The company plans to expand its Web operations focused on the manufacturing sector to include more global markets and also to update its technology.

Leading the round were Fidelity Ventures and Fidelity Asia Ventures. European Founders Fund, a previous investor, also participated in the round. As part of the deal, Larry Cheng of Fidelity Ventures has joined the MFG.com board.

Last year, Business 2.0 magazine hailed MFG.com with the eBay label and called the firm one of its most disruptive emerging companies. Companies pay MFG.com a fee to utilize the site for the sale of goods.

According to MFG.com, the site handles “billions of dollars” in transactions a year. The site operates in 10 languages and 12 currencies.

"The manufacturing industry is one of the world’s largest vertical markets and represents a high potential market for a B-to-B marketplace because of its size, inherent globalization and fragmentation," Cheng said in a statement.

"MFG.com has demonstrated strong historical growth and built a world-class platform that we are confident positions them to further capitalize on the converging trends that are transforming the manufacturing industry: accelerated globalization and increased Internet utilization,” he added.

MFG, founded in 2000, has more than 100,000 registered buyers and suppliers.