Total amount raised
$75 Million
Latest funding date
06/01/2021
Location
FIGS has successfully raised funding over six rounds, with the latest being a Post-IPO Equity round. The company is backed by 20 investors, including notable names like STORY3 Capital Partners.
Keep reading to explore the intricacies of FIGS' fundraising journey and the investors backing this innovative healthcare apparel company.
What Is FIGS?
FIGS is a health care apparel company based in Los Angeles, California. The company focuses on designing and producing comfortable, high-quality scrubs and other medical uniforms for healthcare providers.
Operating in the apparel, consumer goods, fashion, health care, and retail industries, FIGS has an employee count ranging from 251 to 500. The company is known for its innovative fabrications and commitment to the comfort of its products.
How Much Funding Has FIGS Raised?
- Seed Round
- Amount Raised: USD 5,000,000
- Date: July 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company and develop initial product offerings.
- Series A
- Amount Raised: USD 5,000,000
- Date: May 2016
- Lead Investors: Campfire Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and scale operations.
- Series Unknown
- Amount Raised: Not publicly disclosed
- Date: January 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing growth and market expansion.
- Series B
- Amount Raised: USD 65,000,000
- Date: January 2018
- Lead Investors: Tulco
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To invest in technology, customization, and international expansion.
- Post-IPO Equity
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: STORY3 Capital Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and enhance product offerings.
- Post-IPO Debt
- Amount Raised: Not publicly disclosed
- Date: June 2021
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To manage financial obligations and support business operations.
Total Amount Raised: USD 75,000,000
Current Valuation: Not publicly disclosed
Key Investors
- STORY3 Capital Partners
- Details: STORY3 Capital Partners is a private equity firm that focuses on investing in consumer and retail businesses. They are known for their strategic approach to scaling companies.
- Investment Focus Areas: Consumer, Retail, Technology
- Notable Investments: FIGS
- Tulco
- Details: Tulco is an investment firm that leverages artificial intelligence and data science to transform traditional industries. They aim to create value by integrating advanced technologies into their portfolio companies.
- Investment Focus Areas: Technology, Healthcare, Consumer Goods
- Notable Investments: FIGS
- Campfire Capital
- Details: Campfire Capital is a venture capital firm that invests in early-stage consumer brands. They focus on partnering with passionate entrepreneurs to build iconic brands.
- Investment Focus Areas: Consumer, Retail, E-commerce
- Notable Investments: FIGS
What's Next for FIGS?
FIGS is poised for significant growth, with opportunities in technology investment, customization, and international expansion. The company’s focus on antimicrobial, wrinkle-resistant, and stain-repellant medical apparel aligns with industry trends, positioning it well for future success.
As FIGS continues to expand globally, it may seek additional funding to support these initiatives. The company’s strong e-commerce platform and innovative product offerings make it an attractive candidate for future investments.
However, challenges such as managing international operations and integrating new technologies could pose hurdles. Navigating these complexities will be crucial for FIGS to maintain its growth trajectory and capitalize on emerging opportunities.
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