Total amount raised
$87 Million
Latest funding date
10/1/2014
Location
Minted has successfully raised funds over six rounds, with the latest being a Series E round involving investors such as T. Rowe Price and Permira. The platform connects users with artists to create unique products, ranging from wedding invitations to art prints.
Keep reading to explore the intricacies of Minted's fundraising journey and the investors backing this innovative design marketplace.
What Is Minted?
Minted, founded in 2008, is a design marketplace based in San Francisco, California. The company operates in various industries, including art, crowdsourcing, e-commerce, graphic design, home decor, and internet.
With an employee count ranging from 251 to 500, Minted connects users with independent artists to create unique products such as wedding invitations, art prints, and personalized gifts. The platform emphasizes quality materials and craftsmanship, supporting artists through design challenges and sales opportunities.
How Much Funding Has Minted Raised?
- Seed Round
- Amount Raised: USD 2,500,000
- Date: July 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Series A
- Amount Raised: USD 2,100,000
- Date: September 2008
- Lead Investors: Ridge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform and increase user acquisition.
- Series B
- Amount Raised: USD 5,500,000
- Date: November 2011
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and enhance product offerings.
- Series C
- Amount Raised: USD 41,000,000
- Date: October 2013
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support growth and expand into new product categories.
- Series D
- Amount Raised: USD 38,000,000
- Date: October 2014
- Lead Investors: Norwest
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To launch new product categories and enhance manufacturing capabilities.
- Series E
- Amount Raised: USD 208,000,000
- Date: December 2018
- Lead Investors: Permira, T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale the business and explore new market opportunities.
Total Amount Raised: USD 297,600,000. Current Valuation: Not publicly disclosed.
Key Investors
- Permira
- Details: Permira is a global investment firm that advises funds with a total committed capital of approximately $50 billion. They focus on driving growth and transformation in their portfolio companies.
- Investment Focus Areas: Technology, Consumer, Healthcare, Financial Services.
- Notable Investments: Genesys, Informatica, Magento.
- T. Rowe Price
- Details: T. Rowe Price is a global investment management firm with over $1 trillion in assets under management. They offer a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, Healthcare, Financial Services, Consumer Goods.
- Notable Investments: Amazon, Google, Facebook.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a venture capital and growth equity investment firm. They have a history of investing in various sectors including technology, healthcare, and financial services.
- Investment Focus Areas: Technology, Healthcare, Financial Services.
- Notable Investments: Uber, Spotify, Jet.
- Technology Crossover Ventures (TCV)
- Details: TCV is a private equity and venture capital firm that focuses on investing in technology companies at various stages of growth. They have a strong track record of helping companies scale and achieve market leadership.
- Investment Focus Areas: Internet, Software, Financial Technology.
- Notable Investments: Facebook, Netflix, Spotify.
- Benchmark
- Details: Benchmark is a venture capital firm that provides seed money to startups. They are known for their hands-on approach and have been involved in the early stages of many successful companies.
- Investment Focus Areas: Technology, Internet, Mobile.
- Notable Investments: Uber, Twitter, Snapchat.
What's Next for Minted?
Minted is poised to capitalize on significant opportunities by expanding into new product categories such as fabrics and home decor. This move allows artists to set up their own storefronts, leveraging Minted's manufacturing and customer service platform. The potential for growth is substantial, given the platform's existing community of over 6,000 artists and the $38 million recently raised to support these initiatives.
Future fundraising opportunities seem promising, especially with the backing of prominent investors like Norwest Venture Partners and Technology Crossover Ventures. As Minted scales, it may seek additional funding to further enhance its technology platform and expand its market reach.
However, challenges lie ahead. Managing the quality and consistency of products from a diverse group of independent artists and competing with other online marketplaces will be critical. Additionally, ensuring the scalability of their business model as they expand into new categories will require careful planning and execution.
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