Foundry, a brand platform backed by $100 million in debt-free equity funding from LightBay Capital and Monogram Capital Partners, has officially launched today.
The funds will be used to roll out a data-driven technological platform with the goals of developing evergreen brands. Expanding the team, and constructing a strategic portfolio of Omni-digital enterprises.
By maintaining a patient capital structure, Foundry is able to help brands reach their full potential. And form lasting bonds with artists that will aid in their ongoing projects and leave a lasting impact on the world.
As a result of the significant boost in e-commerce adoption that COVID-19 has provided, experts predict that global e-commerce revenue will exceed $6.54 trillion.
But small and medium-sized businesses (SMEs) are falling short because they lack the resources and capital to expand and compete successfully.
Foundry Joins Other Platforms to Enhance Digitally Native Brands
Foundry joins a growing number of platforms with a similar focus on supporting and growing successful digitally native brands.
The company has stated that it hopes to accelerate the development of brands by optimising them for various channels, including e-commerce platforms like Amazon and Walmart.
According to the company, it uses an internal tool to evaluate brands’ potential for expansion, scalability, and longevity.
“Today, it doesn’t matter if a brand is born on Amazon, Shopify, Instagram, or a direct-to-consumer platform; it can happen anywhere online. Tom Shipley, Foundry’s president and co-founder, said in a statement, “Those brands simply need access to the best capabilities to thrive.”
Competitors have also raised millions in venture capital funding to improve and expand their digitally native brands while Foundry does the same for its platform.
In order to expand into new international markets and hire more employees, Heyday closed a $70 million Series B funding round in May.
In the same month, another e-commerce startup, Perch, raised $775 million in Series A funding to acquire and expand direct-to-consumer brands operated by third parties.
LightBay and Monogram
LightBay Funding and Monogram Capital Partners provided $100 million in debt-free equity capital to start Foundry, a brand platform that acquires, nurtures, and builds long-lasting internet brands.
Foundry is a brand acquisition platform that uses a data-driven technology platform to raise the bar for how well brands succeed in online stores.
We seek out promising startups in the digital space and help them grow into mighty empires so that we can offer a curated selection of firms that improve people’s daily lives at home.
Foundry is a long-term business partner for entrepreneurs, having been founded by people who were instrumental in the creation of Amazon Marketplace as well as other game-changing names in the e-commerce and direct-to-consumer sectors.
Using its private equity, continuous resources, extensive network, and unrivalled knowledge, it plans to rapidly expand successful internet brands while increasing their profits.
The money will be used to grow a strong portfolio of omni-digital brands, expand the company’s workforce, and roll out its data-driven technology platform for brand sustainability.
With its patient capital structure, Foundry is able to help businesses reach their full potential, while also developing meaningful, long-term partnerships with its founders to help them realise their vision for the future and build upon their legacies.
CEO Helen Vaid put it this Way
“Our goal with Foundry is simple—we want to alter the lives of founders with a vow to unlock the immense potential of their companies so they may make life-changing exits and build multiple legacies.”
“We aim to create omni-digital brands that are indispensable to the consumers who buy them, and Foundry is perfectly positioned to provide the necessary funding, dedication, and expertise to take these companies to heights their creators could only have imagined.
We function on the principle that the whole is greater than the sum of its parts, and we hope to one day see Foundry set a new benchmark for how successful brands are created.”
We appreciate your interest in Foundry Gets $100M From LightBay and Monogram, Its First Investors.