Total amount raised
$65.1 Millions
Latest funding date
03/01/2022
Location
Firstbase has successfully raised funding from 21 investors, including Forum Ventures and Kleiner Perkins, and was acquired by AppDirect. The platform is designed to equip teams and manage assets globally, handling the entire asset lifecycle from procurement to retrieval.
Keep reading to explore the intricacies of Firstbase's fundraising journey and the investors backing this innovative platform.
What Is Firstbase?
Firstbase, founded in 2019 by Chris Herd and Trey Bastian, is a remote work platform that enables companies to manage physical equipment assets. Based in Wilmington, Delaware, the company provides a comprehensive solution for IT and HR teams to supply employees with the necessary technology, furniture, and equipment for remote work. With a team of 51-100 employees, Firstbase handles the entire asset lifecycle, from procurement to retrieval, ensuring efficient and secure management of resources.
How Much Funding Has Firstbase Raised?
- Angel Round
- Amount Raised: Not publicly disclosed
- Date: March 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the company's initial operations and product development.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: November 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further develop the platform and prepare for market entry.
- Pre-Seed Round
- Amount Raised: Not publicly disclosed
- Date: January 2020
- Lead Investors: Forum Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support early-stage growth and initial customer acquisition.
- Seed Round
- Amount Raised: $2.1M
- Date: August 2020
- Lead Investors: Alpaca VC
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and accelerate product development.
- Series A
- Amount Raised: $13M
- Date: April 2021
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel the company’s rapid growth plans through hiring and product development.
- Series B
- Amount Raised: $50M
- Date: March 2022
- Lead Investors: Kleiner Perkins
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To fuel aggressive hiring, product development, operations, and geographic expansion.
Total Amount Raised: $65.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Kleiner Perkins
- Details: Kleiner Perkins is a leading venture capital firm known for investing in early-stage and growth companies. They have a long history of backing transformative companies in various sectors.
- Investment Focus Areas: Technology, life sciences, high-growth sectors.
- Notable Investments: Google, Amazon, Twitter, Uber.
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm that invests in both early-stage startups and established growth companies. They are known for their significant influence in the tech industry.
- Investment Focus Areas: Technology, consumer, enterprise, bio/healthcare, crypto, fintech.
- Notable Investments: Facebook, Airbnb, Lyft, Slack.
- Alpaca VC
- Details: Alpaca VC is a venture capital firm that invests in early-stage companies. They focus on supporting innovative startups with high growth potential.
- Investment Focus Areas: Early-stage technology companies.
- Notable Investments: Compass, Transfix, Imperfect Foods.
- Forum Ventures
- Details: Forum Ventures is an accelerator and early-stage venture capital firm. They specialize in helping SaaS startups grow and succeed.
- Investment Focus Areas: Early-stage technology startups, SaaS.
- Notable Investments: Not explicitly mentioned in the sources.
The information requested about the disclosed valuation of Firstbase was not found in the provided sources.
What's Next for Firstbase?
Firstbase stands at the cusp of significant growth opportunities, driven by the increasing demand for integrated IT systems and remote work solutions. The company plans to expand its team and accelerate product development to capitalize on the growing IT asset management market, projected to reach $2.1 billion by 2026.
Future fundraising opportunities appear promising, with potential for additional funding rounds to support continued growth and development. The rapid expansion and significant market potential suggest that Firstbase may attract further investments to enhance its capabilities and market reach.
However, challenges lie ahead, including competition from established players and the need to maintain rapid growth while scaling operations effectively. Adapting to evolving market demands and technological advancements will be crucial for Firstbase's sustained success.
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