Total amount raised
$75 Millions
Latest funding date
06/01/2021
Location
FIGS has successfully raised significant funding through multiple rounds, with the latest being a "Post-IPO Debt" round closed on June 11, 2021. The company is backed by 19 investors, including STORY3 Capital Partners.
Stay tuned to delve deeper into FIGS' funding journey and discover the key investors supporting this healthcare apparel company.
What Is FIGS?
FIGS, founded in February 2013 by Heather Hasson and Trina Spear, is a healthcare apparel company based in Los Angeles, California. The company specializes in designing and selling high-quality medical uniforms and apparel, including scrubs, outerwear, footwear, and accessories.
Operating in the apparel, consumer goods, fashion, healthcare, and retail industries, FIGS employs between 251-500 people. Their products are known for being antimicrobial, wrinkle-resistant, stain repellant, lint-free, and featuring four-way stretch, catering to the needs of healthcare professionals.
How Much Funding Has FIGS Raised?
- Seed Round
- Amount Raised: $5M
- 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: $5M
- Date: May 2016
- Lead Investors: Campfire Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand product lines and scale operations.
- Venture Round
- 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: $65M
- 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 raise capital for expansion and corporate purposes.
- 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 raise capital for expansion and corporate purposes.
Total Amount Raised: $75M
Current Valuation: Not publicly disclosed
Key Investors
- STORY3 Capital Partners
- Details: STORY3 Capital Partners is a private equity firm that focuses on investments in the consumer and retail sectors.
- Investment Focus Areas: Consumer, retail.
- Notable Investments: Not publicly disclosed.
- Tulco
- Details: Tulco is a holding company that invests in technology-driven businesses. It was the sole outside backer in FIGS' Series B funding round.
- Investment Focus Areas: Technology-driven businesses.
- Notable Investments: Not publicly disclosed.
- Campfire Capital
- Details: Campfire Capital is a venture capital firm that focuses on consumer brands. It led FIGS' Series A funding round.
- Investment Focus Areas: Consumer brands.
- Notable Investments: Not publicly disclosed.
- Mohr Davidow Ventures
- Details: Mohr Davidow Ventures is a venture capital firm that invests in early-stage technology companies.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Not publicly disclosed.
- Techstars
- Details: Techstars is a seed accelerator that provides funding and mentorship to startups across various sectors.
- Investment Focus Areas: Startups across various sectors.
- Notable Investments: Not publicly disclosed.
What's Next for FIGS?
FIGS is poised to capitalize on significant opportunities, particularly in technology and customization, which could revolutionize the medical apparel industry. With a focus on international expansion, the company aims to broaden its market reach and enhance its e-commerce platform, positioning itself as a global leader in healthcare apparel.
Future fundraising efforts may be necessary to support these ambitious goals, especially as FIGS continues to invest in cutting-edge technology and customization. However, the company may face challenges such as managing international operations and maintaining product quality amidst rapid growth.
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