Total amount raised
$61.9 Million
Latest funding date
06/01/2017
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 connects creators with commerce, enabling them to launch and sell products on social media. Keep reading to explore the intricacies of Spring's fundraising journey and the investors backing this innovative platform.
What Is Spring?
Spring, formerly known as Teespring, is a platform that connects creators with commerce, enabling them to design, create, and sell custom merchandise. The company operates in the content creation, e-commerce, and social shopping industries.
Founded in San Francisco, California, Spring has grown to employ between 251-500 people. The platform offers tools for creating both physical and digital products, integrates with social media channels for easier promotion, and provides a free custom store for each creator.
Spring has been acquired by Amaze Software and continues to empower creators to monetize their ideas and engage with their fans through custom products.
How Much Funding Has Spring Raised?
- Seed Round
- Amount Raised: USD 675,000
- Date: February 2012
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the platform and develop initial product offerings.
- Seed Round
- Amount Raised: USD 1,200,000
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the platform's capabilities and reach more creators.
- Series A
- Amount Raised: Not publicly disclosed
- Date: March 2013
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further scale operations and enhance product features.
- Series A
- Amount Raised: USD 20,000,000
- Date: January 2014
- Lead Investors: Andreessen Horowitz
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and invest in marketing and technology.
- Series B
- Amount Raised: USD 35,000,000
- Date: November 2014
- Lead Investors: Khosla Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand globally and enhance the platform's infrastructure.
- Series Unknown
- Amount Raised: USD 5,000,000
- Date: June 2017
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support the mission of empowering users to design and sell products.
Total Amount Raised: USD 61,875,000. Current Valuation: Not publicly disclosed.
Key Investors
- Andreessen Horowitz
- Details: Andreessen Horowitz is a private venture capital firm founded in 2009 by Marc Andreessen and Ben Horowitz. The firm is known for its investments in early-stage startups and has a significant influence in the tech industry.
- Investment Focus Areas: Technology, software, social media
- Notable Investments: Facebook, Airbnb, Slack
- Khosla Ventures
- Details: Khosla Ventures is a venture capital firm founded by Vinod Khosla, co-founder of Sun Microsystems. The firm focuses on impactful technology investments and has a diverse portfolio.
- Investment Focus Areas: Clean technology, healthcare, artificial intelligence
- Notable Investments: DoorDash, Square, Impossible Foods
- Employee Stock Option Fund
- Details: Employee Stock Option Fund (ESO Fund) provides liquidity solutions for employees of private companies by purchasing their stock options. The fund aims to help employees unlock the value of their equity.
- Investment Focus Areas: Private company stock options, employee liquidity
- Notable Investments: Not publicly disclosed
What's Next for Spring?
Spring's future is brimming with opportunities, particularly for entrepreneurs, influencers, and community organizers. The platform's ability to handle all aspects of product creation and sales positions it well to capitalize on the growing trend of eCommerce and custom merchandise. With a recent $5 million funding round, Spring is poised to expand its operations and capabilities, potentially attracting further investment to fuel its growth.
However, the path ahead is not without challenges. Competition from other eCommerce platforms, managing supply chain logistics, and maintaining high-quality customer service are potential hurdles. Despite these challenges, Spring's innovative approach and strong investor backing suggest a promising future, with opportunities for further fundraising and strategic acquisitions to enhance its market reach.
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