Fictiv has successfully raised $193 million over five funding rounds, positioning itself as a key player in the digital manufacturing ecosystem. The platform offers a range of custom manufacturing services, including CNC machining, injection molding, and 3D printing.
Keep reading to explore the intricacies of Fictiv's fundraising journey and the investors backing this innovative platform.
What Is Fictiv?
Fictiv, founded by David Evans and Nathan Evans, is a leading tech company building the future through a digital ecosystem. Established in 2013, the company is headquartered in California and has additional locations in Texas and other parts of the United States.
Specializing in custom manufacturing services, Fictiv offers CNC machining, injection molding, and 3D printing, among other capabilities. The platform aims to eliminate bottlenecks in new product development by integrating people, processes, and platforms to source custom parts.
With a workforce of 51-200 employees, Fictiv collaborates with industry giants like Tesla, Honeywell, and NASA to deliver high-quality, on-demand parts. The company is highly rated on Glassdoor, reflecting its strong leadership and good work-life balance.
How Much Funding Has Fictiv Raised?
- Series A
- Amount Raised: $10,000,000
- Date: July 2015
- Motivation: To scale operations and enhance the platform's capabilities.
- Series B
- Amount Raised: $15,000,000
- Date: May 2018
- Lead Investors: Sinovation Ventures
- Motivation: To grow Fictiv’s global network of manufacturers and develop new digital tools for workflow optimization.
- Series C
- Amount Raised: $33,000,000
- Date: March 2019
- Lead Investors: G2VP
- Valuation at Round: $100 million (~estimated)
- Motivation: To expand Fictiv's production ecosystem, increase the range of components it can make, and grow its customer base.
- Series D
- Amount Raised: $35,000,000
- Date: February 2021
- Lead Investors: 40 North Ventures
- Motivation: To expand Fictiv’s Digital Manufacturing Ecosystem, advance its cloud-based platform technology, and invest in supply chain operations and network infrastructure.
- Series E
- Amount Raised: $100,000,000
- Date: May 2022
- Lead Investors: Activate Capital
- Motivation: To solve urgent supply chain risks and improve geographic resilience.
Fictiv has raised a total of $193,000,000 with a current valuation of $100 million (~estimated).
Key Investors
- Activate Capital
- Details: Activate Capital is a venture capital firm that focuses on transforming companies through digitized workflows. They led Fictiv's Series E funding round.
- Investment Focus Areas: Energy, healthcare, space, transportation
- Notable Investments: Not specified
- Accel
- Details: Accel is a venture capital firm that invests in early-stage and growth-stage technology companies. They have been a consistent backer of Fictiv across multiple funding rounds.
- Investment Focus Areas: Technology startups, software, internet
- Notable Investments: Facebook, Dropbox, Slack
- G2 Venture Partners
- Details: G2VP is a venture capital firm that invests in companies driving sustainable transformation in traditional industries. They led Fictiv's Series C funding round.
- Investment Focus Areas: Digital transformation, sustainability, industrial technology
- Notable Investments: Not specified
- Bill Gates
- Details: Bill Gates, co-founder of Microsoft, is a prominent investor and philanthropist. He has invested in Fictiv through multiple funding rounds.
- Investment Focus Areas: Technology, healthcare, philanthropy
- Notable Investments: Microsoft, various healthcare and tech startups
- Sinovation Ventures
- Details: Sinovation Ventures is a venture capital firm that focuses on technology and AI startups. They led Fictiv's Series B funding round.
- Investment Focus Areas: Technology, AI, innovative startups
- Notable Investments: Various AI and tech startups
What's Next for Fictiv?
Fictiv stands at the cusp of significant growth opportunities, driven by the increasing demand for digital manufacturing solutions. With $100 million raised in its Series E funding, the company is poised to address urgent supply chain risks and accelerate time to market for new products. This funding will enable Fictiv to expand its digital manufacturing ecosystem, enhance its cloud-based platform, and invest in supply chain operations and network infrastructure.
Future fundraising opportunities seem promising as Fictiv continues to demonstrate success and innovation. The company may attract additional investment to further scale operations or enter new markets. However, challenges such as maintaining rapid growth, ensuring quality and precision in manufacturing, and navigating industry disruptions remain. Fictiv's ability to innovate and adapt will be crucial in overcoming these hurdles and capitalizing on the burgeoning digital transformation in manufacturing.
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