Total amount raised
$84 Millions
Latest funding date
06/01/2022
Location
Title
Glowforge has successfully raised significant funding over multiple rounds, attracting a diverse group of investors. The company specializes in manufacturing 3D laser printers designed for home use, offering a range of products that cater to various creative needs.
Keep reading to explore the intricacies of Glowforge's fundraising journey and the investors backing this innovative platform.
What Is Glowforge?
Glowforge, founded in 2014, is headquartered in Seattle, Washington. The company was established by Dan Shapiro, Tony Wright, and Mark Gosselin.
Specializing in 3D laser printers, Glowforge offers devices that can cut, engrave, and score a variety of materials, making it a versatile tool for both personal and professional use.
With a team of over 100 employees, Glowforge continues to innovate in the field of desktop laser printing, providing creative solutions for a wide range of applications.
How Much Funding Has Glowforge Raised?
- Series A Round
- Amount Raised: $9 million
- Date: May 2015
- Lead Investors: Foundry Group’s Brad Feld
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team with new hires and support the development and go-to-market strategy for Glowforge.
- Series B Round
- Amount Raised: $22 million
- Date: August 2016
- Lead Investors: Foundry Group and True Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate the manufacturing of 3-D laser printers, hire more employees, and ensure timely delivery of preordered units.
- Funding Round
- Amount Raised: $10 million
- Date: April 2018
- Lead Investors: True Ventures and Foundry Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To provide the company with more options to grow, despite having a strong cash balance.
- Series E Round
- Amount Raised: $43 million
- Date: June 2022
- Lead Investors: DFJ Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: The funding will go toward accelerating R&D and commercialization for the company’s products.
Glowforge has raised a total of $84 million. The current valuation is not publicly disclosed.
Key Investors
- DFJ Growth
- Details: DFJ Growth is a venture capital firm that invests in high-growth technology companies. They led the $43 million Series E funding round for Glowforge.
- Investment Focus Areas: Technology, healthcare, energy.
- Notable Investments: SpaceX, Tesla, Twitter.
- True Ventures
- Details: True Ventures is a venture capital firm that provides seed and Series A funding to early-stage technology startups. They have been involved with Glowforge since its early funding rounds.
- Investment Focus Areas: Consumer technology, enterprise technology, healthcare.
- Notable Investments: Automattic (WordPress), Peloton, Ring.
- Foundry Group
- Details: Foundry Group is a venture capital firm that invests in technology companies across various stages of development. They have participated in multiple funding rounds for Glowforge.
- Investment Focus Areas: Software, consumer internet, infrastructure.
- Notable Investments: Fitbit, SendGrid, Zynga.
- Bre Pettis
- Details: Bre Pettis is the co-founder of MakerBot, a company that produces 3D printers. He participated in Glowforge's Series A funding round.
- Investment Focus Areas: 3D printing, maker technologies.
- Notable Investments: MakerBot.
- Jenny Lawton
- Details: Jenny Lawton is the former CEO of MakerBot, with extensive experience in leading technology companies. She participated in Glowforge's Series A funding round.
- Investment Focus Areas: Technology, hardware startups.
- Notable Investments: MakerBot.
What's Next for Glowforge?
Glowforge is poised to capitalize on the burgeoning education market, leveraging its innovative 3D laser printers to democratize access to professional-quality creative tools. The company’s focus on expanding its product lines and enhancing user-friendly features positions it well to tap into the significant growth potential in both educational and professional sectors.
With the recent $43 million Series E funding, Glowforge is well-equipped to accelerate research and development, potentially attracting further investment to support its ambitious growth plans. However, the company must navigate challenges such as market competition and production scalability to maintain its momentum.
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