Total amount raised
$323.2 Million
Latest funding date
05/01/2022
Location
Material Bank has successfully raised funding over 5 rounds, with the latest being a Series D round involving 12 investors, including Brookfield Growth as one of the lead investors. The platform offers a unique service for architects and interior designers to search, sample, and specify materials efficiently.
Keep reading to explore the intricacies of Material Bank's fundraising journey and the investors backing this innovative platform.
What Is Material Bank?
Material Bank is a private company based in Boca Raton, Florida, specializing in providing sample materials for design professionals and brands in the architecture and design industry. The company operates within the Architecture, Industrial Design, Interior Design, Marketplace, and Retail sectors.
With an employee count ranging between 251-500, Material Bank has established itself as a significant player in its field. The platform offers a streamlined process for architects and interior designers to search, sample, and specify materials, with the added benefit of free overnight delivery for samples ordered by midnight.
How Much Funding Has Material Bank Raised?
- Series A
- Amount Raised: USD 20,200,000
- Date: April 2019
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish a strong market presence and develop the platform.
- Series B
- Amount Raised: USD 28,000,000
- Date: April 2020
- Lead Investors: Bain Capital Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand operations and enhance logistics capabilities.
- Series C
- Amount Raised: USD 100,000,000
- Date: May 2021
- Lead Investors: Durable Capital Partners, General Catalyst
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the business and enter new markets.
- Secondary Market
- Amount Raised: Not publicly disclosed
- Date: October 2021
- Lead Investors: FJ Labs
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide liquidity to early investors and employees.
- Series D
- Amount Raised: USD 175,000,000
- Date: May 2022
- Lead Investors: Brookfield Growth
- Valuation at Round: USD 1.9 billion
- Motivation Behind the Round: To strengthen industry relationships, expand globally, and make strategic acquisitions.
Total Amount Raised: USD 323,200,000. Current Valuation: USD 1.9 billion.
Key Investors
- Brookfield Growth
- Details: Brookfield Growth is the technology investment arm of Brookfield Asset Management Inc., a global alternative asset manager with over $600 billion in assets under management. They focus on growth equity investments in technology and innovation-driven companies.
- Investment Focus Areas: Technology, real estate, infrastructure, renewable power.
- Notable Investments: Material Bank, various technology companies.
- FJ Labs
- Details: FJ Labs is a venture capital firm that invests in early-stage and growth-stage companies. They are known for their focus on marketplaces and consumer internet businesses.
- Investment Focus Areas: Marketplaces, e-commerce, consumer internet.
- Notable Investments: Material Bank, various marketplace companies.
- Durable Capital Partners
- Details: Durable Capital Partners is an investment firm that focuses on public and private companies with long-term growth potential. They are known for their patient capital approach.
- Investment Focus Areas: Public companies, private companies, long-term growth.
- Notable Investments: Material Bank, various long-term growth companies.
- General Catalyst
- Details: General Catalyst is a venture capital firm that invests in early-stage and growth-stage companies across various sectors. They are known for their support of transformative businesses.
- Investment Focus Areas: Technology, healthcare, consumer.
- Notable Investments: Airbnb, Stripe, Snap.
- Bain Capital Ventures
- Details: Bain Capital Ventures is the venture capital division of Bain Capital, focusing on technology and innovation. They invest in companies at various stages of growth.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: LinkedIn, DocuSign, Jet.com.
What's Next for Material Bank?
Material Bank stands on the brink of significant growth opportunities. With a recent $175 million Series D funding round, the company is poised to strengthen its relationships within the real estate and construction industries and expand its global presence. The substantial financial backing and a valuation of nearly $1.9 billion underscore the vast potential ahead.
Future fundraising opportunities seem promising, given the involvement of high-profile investors. As Material Bank continues to grow, additional funding rounds could support further expansion and innovation. However, challenges such as maintaining logistics quality and navigating international markets may arise. The company's ability to integrate potential acquisitions smoothly will be crucial for sustained success.
Use Clay to Get Funding Data
Sales professionals, take advantage of Clay's platform to access comprehensive fundraising data on companies like Material Bank and gather other critical business insights.
Sign up for free to start leveraging these powerful tools and elevate your sales strategy.
