Total amount raised
$39.9 Millions
Latest funding date
Location
Fulcrum has successfully raised $36.8 million over two Series A funding rounds, attracting a diverse group of 16 investors. The platform is a cloud-based manufacturing software designed to optimize workflow and automate data collection.
Keep reading to explore the intricacies of Fulcrum's fundraising journey and the investors backing this innovative platform.
What Is Fulcrum?
Fulcrum, founded in 2020 by Yu Sunny Han, is headquartered in Minneapolis, Minnesota. The company specializes in providing a SaaS platform designed to improve manufacturing efficiency through workflow optimization and automated data collection. With a team of 11-50 employees, Fulcrum focuses on connecting manufacturing shops with live data to enhance decision-making and streamline operations.
How Much Funding Has Fulcrum Raised?
- Seed Round
- Amount Raised: $3.1M
- Date: Sep 2020
- Lead Investors: Motivate Venture Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of the platform and validate the market need for workflow optimization in manufacturing.
- Series A
- Amount Raised: $18.8M
- Date: Oct 2022
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale the platform and expand the customer base.
- Series A2
- Amount Raised: $18M
- Date: Aug 2023
- Lead Investors: Bessemer Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the existing feature set and connect manufacturers across the supply chain.
Total amount raised: $39.9M. Current valuation: Not publicly disclosed.
Key Investors
The major investors in Fulcrum are as follows:
- Bessemer Venture Partners
- Details: Bessemer Venture Partners is a leading venture capital firm with a history rooted in the steel industry. They have a significant portfolio and are known for their substantial funding amounts.
- Investment Focus Areas: Technology, transformative changes across various industries, SaaS, manufacturing, enterprise software.
- Notable Investments: Toast, Shopify, Twitch.
- Motivate Venture Capital
- Details: Motivate Venture Capital is an existing institutional investor in Fulcrum. They focus on funding innovative companies and startups.
- Investment Focus Areas: Early-stage technology companies, SaaS, manufacturing, enterprise software.
- Notable Investments: Not specified.
- Battery Ventures
- Details: Battery Ventures is an existing institutional investor in Fulcrum. They are known for their investments in technology and innovation across multiple sectors.
- Investment Focus Areas: Technology, innovation across multiple sectors.
- Notable Investments: Not specified.
- Schematic Ventures
- Details: Schematic Ventures is an existing institutional investor in Fulcrum. They specialize in supply chain and manufacturing technology.
- Investment Focus Areas: Supply chain, manufacturing technology.
- Notable Investments: Not specified.
- Waybury Capital
- Details: Waybury Capital is a new investor in Fulcrum. They are involved in various investment activities.
- Investment Focus Areas: Not specified.
- Notable Investments: Not specified.
What's Next for Fulcrum?
Fulcrum stands at the cusp of significant growth, driven by the opportunity to expand its feature set and connect manufacturers across the supply chain. With small and mid-sized customers producing $1.6 billion worth of goods annually, the potential for impact is substantial. The manufacturing sector, accounting for 17% of the global economy, presents a vast market for Fulcrum's innovative solutions.
Future fundraising opportunities seem promising, given the successful Series A2 round and the involvement of high-profile investors like Bessemer Venture Partners. This financial backing could pave the way for further rounds to scale operations and enhance technological capabilities. However, challenges such as overcoming the inertia of legacy systems and ensuring seamless integration with existing ERP systems remain. Scaling the software to meet diverse global needs will also be crucial for sustained growth.
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