Total amount raised
$293.5 Millions
Latest funding date
2/1/2022
Location
fabric has successfully raised significant capital through multiple funding rounds, attracting a diverse group of investors including Sierra Ventures and Forerunner Ventures. The platform offers a headless eCommerce solution designed to help companies enhance their online presence with an API-driven modular system.
Keep reading to explore the intricacies of fabric's fundraising journey and the investors backing this innovative platform.
What Is fabric?
Founded in 2016 by Ryan Bartley and Shiv Agarwal, fabric is headquartered in Seattle, Washington. The company specializes in providing a headless eCommerce platform designed to help businesses enhance their online presence through an API-driven modular system.
fabric's solutions include AI-powered order management systems, product catalogs, and dropship services, aimed at streamlining omnichannel fulfillment and delivering personalized promotions. The platform is particularly beneficial for merchants not well-served by other hosted platforms like Shopify or Salesforce.
With a team of 101-250 employees, fabric continues to innovate in the eCommerce space, offering tools that centralize product information and expand product assortments for retailers.
How Much Funding Has fabric Raised?
- Seed Round
- Amount Raised: $10.5M
- Date: October 2020
- Lead Investors: Redpoint
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial product and build the core team.
- Series A
- Amount Raised: $43M
- Date: February 2021
- Lead Investors: Norwest Venture Partners
- Valuation at Round: $193M
- Motivation Behind the Round: To capitalize on the rapid growth in e-commerce adoption due to the pandemic.
- Series B
- Amount Raised: $100M
- Date: July 2021
- Lead Investors: Stripes
- Valuation at Round: $850M
- Motivation Behind the Round: To scale operations and technology offerings, helping mid-market brands compete with larger e-commerce organizations.
- Series C
- Amount Raised: $140M
- Date: February 2022
- Lead Investors: SoftBank Vision Fund
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand market presence.
Total Amount Raised: $293.5M. Current Valuation: $850M.
Key Investors
- SoftBank Vision Fund
- Details: SoftBank Vision Fund is a global investment fund focused on technology companies. It is known for making large-scale investments in transformative tech firms.
- Investment Focus Areas: Technology, AI, robotics, telecommunications
- Notable Investments: Uber, WeWork, Arm Holdings
- Stripes
- Details: Stripes is a growth equity firm that invests in software and consumer businesses. The firm is based in New York and focuses on high-growth companies.
- Investment Focus Areas: Software, consumer products, healthcare
- Notable Investments: Monday.com, Snyk, Reformation
- Norwest Venture Partners
- Details: Norwest Venture Partners is a multi-stage investment firm that invests in early to late-stage companies. The firm has a diverse portfolio across various sectors.
- Investment Focus Areas: Technology, healthcare, financial services
- Notable Investments: Uber, Spotify, BlueJeans
- Redpoint
- Details: Redpoint is a venture capital firm that invests in seed, early, and growth-stage companies. The firm has a strong focus on technology-driven businesses.
- Investment Focus Areas: Consumer technology, enterprise technology
- Notable Investments: Netflix, Snowflake, Stripe
- Sierra Ventures
- Details: Sierra Ventures is a venture capital firm that invests in early-stage technology companies. The firm has a history of supporting innovative tech startups.
- Investment Focus Areas: Early-stage technology companies
- Notable Investments: Not publicly disclosed
What's Next for fabric?
As fabric looks to the future, the opportunities are vast. The company is poised to capitalize on the growing demand for digital transformation in the B2B sector, a market that has seen significant growth due to the pandemic. With a valuation of $850 million and a recent $100 million funding round, fabric is well-positioned to expand its modular commerce solutions, helping mid-market brands compete with e-commerce giants.
Future fundraising seems promising, given the rapid growth and investor interest. However, challenges such as intense competition and the need for continuous innovation loom large. Navigating these hurdles will be crucial for fabric as it aims to maintain its upward trajectory and possibly achieve unicorn status.
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