Total amount raised
$87 Millions
Latest funding date
10/1/2014
Location
Minted has successfully raised funds through multiple rounds, with the latest being a Series E that closed on December 14, 2018. The company is backed by 14 investors, including notable names like T. Rowe Price and Permira.
Keep reading to explore the intricacies of Minted's fundraising journey and the investors supporting this unique design marketplace.
What Is Minted?
Minted, founded in 2007 by Mariam Naficy and Melissa Kim, is a design marketplace based in San Francisco, California. The company connects consumers with independent artists through its unique crowdsourcing technology, allowing users to vote on designs that are then produced and sold by Minted.
Minted offers a wide range of products, including wedding invitations, stationery, Christmas cards, gifts, and art prints. The platform supports artists by providing them with a marketplace to showcase and sell their work, while Minted handles manufacturing and distribution.
With a team of 251-500 employees, Minted continues to innovate in the design space, bringing fresh and trend-forward products to market. The company also collaborates with major retailers and consumer brands through licensing and wholesale partnerships.
How Much Funding Has Minted Raised?
- Seed Round
- Amount Raised: $2.5M
- Date: July 2008
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To kickstart the business and develop the initial platform.
- Series A
- Amount Raised: $2.1M
- Date: September 2008
- Lead Investors: Ridge Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform.
- Series B
- Amount Raised: $5.5M
- Date: November 2011
- Lead Investors: Benchmark
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance product offerings and improve technology infrastructure.
- Series C
- Amount Raised: $41M
- Date: October 2013
- Lead Investors: TCV
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into new product categories and increase marketing efforts.
- Series D
- Amount Raised: $38M
- Date: October 2014
- Lead Investors: Norwest Venture Partners
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand into fabrics and home decor, and enhance manufacturing capabilities.
- Series E
- Amount Raised: $208M
- Date: December 2018
- Lead Investors: Permira, T. Rowe Price
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and explore new market opportunities.
Total Amount Raised: $297.1M. Current Valuation: Not publicly disclosed.
Key Investors
- Permira
- Details: Permira is a global investment firm that backs market-leading businesses with growth potential. They have a strong presence in Europe, North America, and Asia.
- Investment Focus Areas: Technology, consumer, healthcare, financial services.
- Notable Investments: Genesys, Informatica, Magento.
- T. Rowe Price
- Details: T. Rowe Price is an American publicly owned global investment management firm. They offer a broad range of mutual funds, subadvisory services, and separate account management for individual and institutional investors.
- Investment Focus Areas: Technology, healthcare, financial services.
- Notable Investments: Tesla, Amazon, Google.
- Norwest Venture Partners
- Details: Norwest Venture Partners is a global, multi-stage venture capital and growth equity investment firm. They have over 600 investments in their portfolio.
- Investment Focus Areas: Consumer, enterprise, healthcare.
- Notable Investments: Uber, Spotify, Jet.
- TCV
- Details: Technology Crossover Ventures (TCV) is a private equity and venture capital firm. They specialize in growth-stage investments in technology companies.
- Investment Focus Areas: Internet, software, financial technology, enterprise IT.
- Notable Investments: Netflix, Facebook, Spotify.
- Benchmark
- Details: Benchmark is a venture capital firm that provides seed money to startups. They are known for their hands-on approach and strong network in Silicon Valley.
- Investment Focus Areas: Early-stage startups across various sectors.
- Notable Investments: Uber, Twitter, Snapchat.
What's Next for Minted?
Minted's future looks promising as it expands into new product categories like fabrics and home decor, leveraging its crowdsourced design model. The launch of a new storefront model for artists to run their own businesses on Minted's platform presents a significant growth opportunity, potentially increasing the marketplace's reach and diversity.
With nearly $90 million in total funding, Minted is well-positioned for future fundraising to support its ambitious plans. However, challenges such as maintaining quality control and scaling operations while integrating new senior management roles could pose hurdles. The company's ability to navigate these challenges will be crucial for its continued success.
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