Total amount raised
$365.9 Millions
Latest funding date
12/01/2021
Location
Boxed has successfully raised funds through multiple rounds, with the latest being a Post-IPO Equity round. The company is backed by 44 investors, including Brigade Capital Management and Onex Credit.
Keep reading to explore the intricacies of Boxed's fundraising journey and the investors backing this innovative platform.
What Is Boxed?
Boxed, founded in 2013, is an online bulk grocery retailer headquartered in New York. The company offers a wholesale club experience without the need for membership fees, providing a convenient platform for modern shoppers.
Boxed was founded by Chieh Huang, Christopher Cheung, Jared Yaman, and William Fong. The company has grown significantly since its inception, now employing between 101 and 250 people.
Boxed's platform allows customers to purchase a wide range of products in bulk, including groceries, household essentials, and personal care items, all delivered directly to their doorsteps.
How Much Funding Has Boxed Raised?
- Seed Round
- Amount Raised: $1.1M
- Date: August 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's operations and develop the initial platform.
- Series A
- Amount Raised: $6.5M
- Date: May 2014
- Lead Investors: Greycroft
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the product offerings and scale the business operations.
- Series B
- Amount Raised: $25M
- Date: January 2015
- Lead Investors: DST Global, Eniac Ventures, Notable Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance logistics and improve customer experience.
- Series C
- Amount Raised: $102.3M
- Date: January 2016
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the national footprint and increase brand awareness.
- Series D
- Amount Raised: $111M
- Date: August 2018
- Lead Investors: AEON RETAIL
- Valuation at Round: $600M
- Motivation Behind the Round: To capitalize on industry changes and enhance logistics and automation capabilities.
- Post-IPO Equity
- Amount Raised: $120M
- Date: December 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support continued growth and operational expansion.
Total Amount Raised: $365.9M. Current Valuation: $600M.
Key Investors
- AEON RETAIL
- Details: AEON RETAIL is the largest retailer in Japan by sales. The company focuses on providing a wide range of retail services and products.
- Investment Focus Areas: Retail, logistics, robotics, AI-driven data usage.
- Notable Investments: Primarily focused on retail and related technologies.
- DST Global
- Details: DST Global is a venture capital firm known for investing in late-stage internet companies. It has a strong presence in the technology sector.
- Investment Focus Areas: Technology, internet, consumer goods.
- Notable Investments: Facebook, Twitter, Alibaba.
- Eniac Ventures
- Details: Eniac Ventures is a venture capital firm that invests in early-stage technology startups. The firm is known for its hands-on approach with portfolio companies.
- Investment Focus Areas: Mobile, software, consumer technology.
- Notable Investments: Airbnb, SoundCloud, Hinge.
- Notable Capital
- Details: Notable Capital is a venture capital firm that focuses on high-growth technology companies. The firm has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, consumer goods.
- Notable Investments: Not specified in the sources.
- Greycroft
- Details: Greycroft is a venture capital firm that invests in both early and growth-stage companies. The firm has a strong focus on digital media and technology.
- Investment Focus Areas: Digital media, technology, e-commerce.
- Notable Investments: Venmo, Huffington Post, Maker Studios.
What's Next for Boxed?
Boxed is poised to capitalize on significant opportunities, particularly through its strategic partnership with Aeon. This collaboration will enhance logistics, robotics, and AI-driven data usage, potentially revolutionizing Boxed's operational efficiency. The company aims to expand its national footprint, leveraging the $111 million raised in its latest funding round to increase brand awareness and reach new markets.
Future fundraising opportunities appear promising, with potential for additional investment rounds to support technological advancements and market expansion. However, Boxed faces challenges from established competitors like Amazon and Costco, as well as the complexities of scaling operations while maintaining service quality. Navigating these hurdles will be crucial for Boxed's continued growth and success.
Use Clay to Get Funding Data
Sales professionals, leverage Clay’s platform to access comprehensive fundraising data on companies like Boxed and gather other critical business insights. Sign up for free and start making data-driven decisions today.
