Total amount raised
$60M
Latest funding date
2018-01-25
Location
Spring has successfully raised funding over six rounds, with the latest being a Venture - Series Unknown round. The platform is backed by 12 investors, including notable names like Employee Stock Option Fund and Andreessen Horowitz.
Spring (formerly Teespring) — Funding Overview
Spring, formerly known as Teespring, is a social commerce platform that allows creators to design, produce, and sell custom merchandise. Founded in 2011 by Walker Williams and Evan Stites-Clayton in Providence, Rhode Island, the company raised approximately $60 million in venture capital across several rounds before being acquired by Amaze Software in November 2022.
Funding Rounds
- Seed Round (2012): $600,000 from Rhode Island angel investors Bill Cesare and Mark Weiner. The company officially launched in October 2012.
- Y Combinator / Post-YC Round (2013): $1.3 million raised after completing the Y Combinator accelerator program, including $500,000 from Sam Altman (then president of Y Combinator).
- Series A (January 2014): $20 million led by Andreessen Horowitz. Lars Dalgaard of Andreessen Horowitz joined Teespring's board as part of the deal.
- Series B (November 18, 2014): $35 million led by Khosla Ventures, with participation from Andreessen Horowitz. Keith Rabois of Khosla Ventures joined the board.
- Recapitalization / \"Series 1\"Round (June 2017): $5 million raised in a painful down-round recapitalization. Investors included Khosla Ventures, Hydrazine Capital, and 9Point Ventures. Post-money valuation dropped from a peak of ~$615 million to approximately $11 million.
- PPP Loan (April 2020): $3.5 million from the U.S. Paycheck Protection Program during the COVID-19 pandemic.
Acquisition
On November 8–9, 2022, Amaze Software Inc. announced the acquisition of Spring for an undisclosed sum. The deal united the two creator-economy companies, with Amaze taking on Spring's 5.5 million creator storefronts and merchandising tools.
Total Funding
Spring (Teespring) raised approximately $60 million in total venture and equity funding across all rounds (excluding the 2020 PPP loan). Key institutional investors included Andreessen Horowitz, Khosla Ventures, Y Combinator, Hydrazine Capital, and 9Point Ventures.
