How Much Did Material Bank Raise? Headquarters, Funding & Key Investors

Material Bank has raised a total of $304 million across four funding rounds, reaching a $1.9 billion valuation in May 2022. Founded in 2018 and headquartered in Boca Raton, Florida, the company connects architects, designers, and brands through a digital marketplace for building materials. Key rounds include a $20.2M Series A (2019), $28M Series B (2020), $100M Series C (2021), and a $175M Series D (2022) led by Brookfield Growth. Backed by Bain Capital Ventures, Durable Capital Partners, and General Catalyst, Material Bank is expanding globally in sustainable design logistics.

How Much Did Material Bank Raise? Funding & Key Investors

Material Bank has raised a total of $304 million in funding from top investors, including Brookfield Growth, Bain Capital Ventures, Durable Capital Partners, and General Catalyst. It has reached a valuation of $1.9 billion as of May 2022. The company serves as a marketplace for construction and design raw materials, helping professionals source, sample, and specify materials efficiently.

What Is Material Bank and What Does It Do?

Material Bank, founded in 2018 by Adam Sandow, is headquartered in Boca Raton, Florida. The company employs between 251-500 people and operates a marketplace connecting architects, designers, and brands in the architecture and construction industry.

Its digital platform allows users to search and sample materials from hundreds of brands, offering overnight delivery for orders placed before midnight. Material Bank also runs initiatives like the Brand Partner Program, Workspace Tools, Sustainability Initiatives, and a University Program, reinforcing its role as a leading resource hub for design professionals.

How Much Funding Has Material Bank Raised?

1. Series A

Amount Raised: $20.2 Million
Date: April 2019
Motivation: To establish a strong market presence and develop the platform’s core functionalities.

2. Series B

Amount Raised: $28 Million
Date: April 2020
Lead Investors: Bain Capital Ventures
Motivation: To expand the platform’s capabilities and enhance logistics operations.

3. Series C

Amount Raised: $100 Million
Date: May 2021
Lead Investors: Durable Capital Partners, General Catalyst
Motivation: To scale operations and increase market penetration.

4. Series D

Amount Raised: $175 Million
Date: May 2022
Lead Investors: Brookfield Growth
Motivation: To strengthen partnerships within real estate and construction, expand global presence, and pursue strategic acquisitions.

Total Funding Raised: $304 Million

Current Valuation: $1.9 Billion (as of May 2022)

Latest Funding Date: May 2022

Key Investors

1. Brookfield Growth

Details: Technology investment arm of Brookfield Asset Management Inc., leading Material Bank’s $175M Series D round.
Investment Focus Areas: Growth equity investments, real estate, infrastructure, renewable power.
Notable Investments: Not publicly disclosed.

2. FJ Labs

Details: Venture capital firm investing in early-stage startups, known for supporting marketplace and SaaS companies.
Investment Focus Areas: Marketplaces, e-commerce, SaaS.
Notable Investments: Not publicly disclosed.

3. Durable Capital Partners

Details: Long-term investment firm focused on growth-oriented companies.
Investment Focus Areas: Technology, consumer, and healthcare.
Notable Investments: Not publicly disclosed.

4. General Catalyst

Details: Venture capital firm investing in early and growth-stage technology companies.
Investment Focus Areas: Technology, healthcare, and consumer.
Notable Investments: Not publicly disclosed.

5. Bain Capital Ventures

Details: Venture capital arm of Bain Capital, focusing on early and growth-stage companies.
Investment Focus Areas: Fintech, healthcare, enterprise software.
Notable Investments: Not publicly disclosed.

Where Is Material Bank’s Headquarters?

Material Bank is headquartered in Boca Raton, Florida, offering proximity to major design hubs and logistics centers. This strategic location enables fast sample delivery and facilitates collaboration with brands and design professionals across North America.

What’s Next for Material Bank?

Material Bank is poised for global expansion, fueled by its $175 million Series D funding led by Brookfield Growth. The company aims to deepen relationships in the real estate and construction industries and to leverage its $1.9 billion valuation to pursue international growth and acquisitions.

As the architecture and design sectors increasingly shift to digital platforms, Material Bank is well-positioned to lead with its innovative logistics model and sustainability focus. However, maintaining quality and seamless service during rapid expansion will be critical to sustaining its competitive edge.

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