Total amount raised
$262.1 Millions
Latest funding date
06/01/2021
Location
FabFitFun has successfully raised funds through multiple rounds, with the last funding round being a Secondary Market round closed on June 1, 2021. The company is backed by tier-one investors such as New Enterprise Associates, Upfront Ventures, Simon Venture Group, G Squared, and Armentum Partners.
Keep reading to explore the intricacies of FabFitFun's fundraising journey and the investors backing this innovative platform.
What Is FabFitFun?
FabFitFun, founded in 2010, is based in Los Angeles, California. The company offers a seasonal subscription box featuring a curated selection of full-size products across beauty, fashion, fitness, wellness, home, and tech.
FabFitFun was founded by Daniel Broukhim, Katie Echevarria Rosen Kitchens, Michael Broukhim, and Sam Teller. The company also provides a streaming service, an online community, exclusive member perks, and e-gift cards.
With a team of 251-500 employees, FabFitFun continues to innovate in the subscription service industry, allowing members to discover new brands and products.
How Much Funding Has FabFitFun Raised?
- Seed Round
- Amount Raised: $3.5M
- Date: October 13, 2015
- Lead Investors: New Enterprise Associates
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Likely used to support the company's initial growth and transition from a digital publication to a subscription box service.
- Series A
- Amount Raised: $80M
- Date: January 30, 2019
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product offerings, fuel global expansion, and hire additional staff.
- Series A
- Amount Raised: €71.9M
- Date: October 1, 2019
- Lead Investors: Milano Investment Partners SGR
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned.
- Debt Financing
- Amount Raised: $100M
- Date: January 1, 2020
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: June 1, 2021
- Lead Investors: G Squared, Armentum Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: Not explicitly mentioned.
Total Amount Raised: $183.5M
Current Valuation: Not publicly disclosed
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a venture capital firm known for investing in early-stage and growth companies. General Partners Mood Rowghani and Mary Meeker are involved with FabFitFun.
- Investment Focus Areas: Technology, healthcare, consumer products.
- Notable Investments: Google, Amazon, Twitter.
- New Enterprise Associates (NEA)
- Details: NEA is a global venture capital firm that invests in technology and healthcare sectors. They have been involved in multiple funding rounds for FabFitFun.
- Investment Focus Areas: Technology, healthcare.
- Notable Investments: Coursera, Duolingo, Robinhood.
- Upfront Ventures
- Details: Upfront Ventures is a venture capital firm that invests in early-stage technology companies. They participated in FabFitFun's Series A funding round.
- Investment Focus Areas: Technology, consumer products, media.
- Notable Investments: Bird, Ring, GOAT.
- Milano Investment Partners SGR
- Details: Milano Investment Partners SGR is an investment firm that participated in FabFitFun's Series A funding round. Specific details about the firm are not explicitly mentioned in the sources.
- Investment Focus Areas: Not explicitly detailed.
- Notable Investments: Not explicitly detailed.
- Charlie
- Details: Charlie is listed as an investor in FabFitFun's seed round. Specific details about this investor are not explicitly mentioned in the sources.
- Investment Focus Areas: Not explicitly detailed.
- Notable Investments: Not explicitly detailed.
What's Next for FabFitFun?
FabFitFun stands at the cusp of significant growth opportunities. With plans to expand its product offerings and global reach, the company is poised to leverage its $80 million Series A funding to fuel these ambitions. The increasing popularity of subscription box services and the emphasis on personalized consumer experiences present a fertile ground for FabFitFun to enhance its market presence and customer engagement.
Future fundraising opportunities appear promising as the company continues to scale and diversify its offerings. The involvement of high-profile investors like Kleiner Perkins and NEA suggests a strong potential for additional investment rounds. However, FabFitFun will need to navigate challenges such as maintaining customer satisfaction, managing rapid growth, and staying ahead of technological advancements to sustain its momentum.
Use Clay to Get Funding Data
Sales professionals, take your strategy to the next level by leveraging Clay's platform to access comprehensive fundraising data on companies like FabFitFun and gather other critical business insights.
Sign up for free and start exploring the wealth of information available at Clay.
