USA – Material Bank, a Miami, Fla.-based marketplace for searching and sampling architectural, design, and construction materials, secured $100m in Series C funding.
The round, which brought total funding to $157m, was co-led by General Catalyst and Durable Capital Partners LP, with participation from Bond, Lead Edge Capital and existing investors Bain Capital Ventures and Raine Ventures. In conjunction with the funding, Bob Mylod of Annox Capital, will be joining Material Bank’s Board of Directors.The company intends to use the funds to scale teams and infrastructure, expand into new verticals, make strategic acquisitions, and seed long-term growth initiatives.Led by Founder, Chairman and CEO Adam I. Sandow, Material Bank is a marketplace for design professionals and brands in the architecture and design industry, providing a way to discover and sample materials. Material Bank has 375 brands and over 65,000 members performing almost 700,000 material searches a month. The marketplace is powered by a new, 380,000 square foot logistics facility, located just minutes from FedEx’s World Hub in Memphis, TN. This new facility uses autonomous robots to service tens of thousands of sample requests every night.07/05/2021
